Nabors Industries (NYSE:NBR) Shares Gap Up to $168.95

Nabors Industries Ltd. (NYSE:NBRGet Rating)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $168.95, but opened at $173.80. Nabors Industries shares last traded at $172.18, with a volume of 437 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NBR. StockNews.com downgraded shares of Nabors Industries from a “buy” rating to a “hold” rating in a research report on Thursday, January 5th. Citigroup raised shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Tuesday. TheStreet raised shares of Nabors Industries from a “d+” rating to a “c-” rating in a research report on Thursday, October 20th. Barclays raised shares of Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a report on Tuesday, January 10th. Finally, Susquehanna raised their price objective on shares of Nabors Industries from $125.00 to $189.00 in a report on Thursday, October 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $186.33.

Nabors Industries Stock Down 1.6 %

The company has a debt-to-equity ratio of 4.34, a quick ratio of 1.50 and a current ratio of 1.73. The firm has a market capitalization of $1.60 billion, a PE ratio of -3.52 and a beta of 2.79. The company’s 50 day simple moving average is $155.70 and its 200-day simple moving average is $138.16.

Nabors Industries (NYSE:NBRGet Rating) last posted its earnings results on Tuesday, October 25th. The oil and gas company reported ($5.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.71) by ($1.83). Nabors Industries had a negative return on equity of 51.63% and a negative net margin of 16.16%. The firm had revenue of $698.95 million during the quarter, compared to analysts’ expectations of $679.20 million. On average, analysts forecast that Nabors Industries Ltd. will post -26.65 EPS for the current fiscal year.

Institutional Trading of Nabors Industries

Several institutional investors and hedge funds have recently bought and sold shares of NBR. ProShare Advisors LLC purchased a new stake in shares of Nabors Industries during the 1st quarter valued at $243,000. Raymond James & Associates purchased a new stake in shares of Nabors Industries during the 1st quarter valued at $213,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Nabors Industries during the 1st quarter valued at $251,000. Bank of New York Mellon Corp raised its position in shares of Nabors Industries by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 73,869 shares of the oil and gas company’s stock valued at $11,281,000 after buying an additional 907 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Nabors Industries by 108.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,779 shares of the oil and gas company’s stock valued at $576,000 after buying an additional 1,967 shares in the last quarter. 71.98% of the stock is currently owned by hedge funds and other institutional investors.

About Nabors Industries

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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.

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