Nabors Industries (NYSE:NBR – Get Rating) had its target price decreased by equities research analysts at Susquehanna Bancshares from $170.00 to $21.00 in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. Susquehanna Bancshares’ price target would suggest a potential downside of 88.96% from the company’s previous close.
NBR has been the topic of several other research reports. Susquehanna reduced their price target on shares of Nabors Industries from $170.00 to $21.00 in a report on Wednesday. Morgan Stanley upped their price target on shares of Nabors Industries from $100.00 to $150.00 and gave the company an “underweight” rating in a report on Monday, April 11th. StockNews.com initiated coverage on shares of Nabors Industries in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Barclays boosted their price objective on shares of Nabors Industries from $132.00 to $180.00 in a research report on Monday, May 2nd. Finally, Capital One Financial reissued an “equal weight” rating on shares of Nabors Industries in a research report on Thursday, March 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $97.83.
NBR stock opened at $190.14 on Wednesday. The company has a market cap of $2.00 billion, a P/E ratio of -2.39 and a beta of 2.83. Nabors Industries has a 52 week low of $65.58 and a 52 week high of $207.67. The company’s 50-day moving average price is $160.35 and its 200 day moving average price is $129.08. The company has a current ratio of 1.84, a quick ratio of 1.58 and a debt-to-equity ratio of 3.83.
Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Nabors Industries by 42.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,000 shares of the oil and gas company’s stock valued at $243,000 after purchasing an additional 900 shares during the period. Swiss National Bank boosted its stake in shares of Nabors Industries by 1.9% in the fourth quarter. Swiss National Bank now owns 16,400 shares of the oil and gas company’s stock valued at $1,330,000 after purchasing an additional 300 shares during the period. CoreCommodity Management LLC purchased a new position in shares of Nabors Industries in the fourth quarter valued at $239,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Nabors Industries in the fourth quarter valued at $33,000. Finally, Oregon Public Employees Retirement Fund boosted its stake in Nabors Industries by 9.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,932 shares of the oil and gas company’s stock valued at $238,000 after acquiring an additional 245 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.
About Nabors Industries (Get Rating)
Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.
- Get a free copy of the StockNews.com research report on Nabors Industries (NBR)
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