Nabors Industries (NYSE:NBR) Downgraded to Hold at StockNews.com

Nabors Industries (NYSE:NBR – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also commented on NBR. Citigroup decreased their price target on Nabors Industries from $200.00 to $140.00 in a research note on Friday, May 19th. Susquehanna reduced their target price on Nabors Industries from $135.00 to $110.00 in a research note on Wednesday, April 26th. 888 reaffirmed a “maintains” rating on shares of Nabors Industries in a research note on Wednesday, April 26th. Morgan Stanley raised Nabors Industries from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $175.00 to $165.00 in a research note on Tuesday, April 18th. Finally, Barclays lowered Nabors Industries from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $250.00 to $150.00 in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Nabors Industries currently has an average rating of “Hold” and an average target price of $155.00.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $90.76 on Friday. The business’s 50 day simple moving average is $107.57 and its 200-day simple moving average is $140.37. The firm has a market capitalization of $865.85 million, a price-to-earnings ratio of -6.06 and a beta of 2.76. The company has a debt-to-equity ratio of 4.40, a current ratio of 1.87 and a quick ratio of 1.61. Nabors Industries has a 12 month low of $85.35 and a 12 month high of $193.88.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NBR. ProShare Advisors LLC acquired a new position in Nabors Industries in the 1st quarter valued at $243,000. Raymond James & Associates acquired a new stake in shares of Nabors Industries during the 1st quarter worth $213,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Nabors Industries during the 1st quarter worth $251,000. Bank of New York Mellon Corp increased its holdings 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 worth $11,281,000 after buying an additional 907 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings 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 worth $576,000 after buying an additional 1,967 shares during the last quarter. 71.98% of the stock is currently owned by institutional investors and hedge funds.

About Nabors Industries

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Nabors Industries Ltd. engages in the provision of platform work over and drilling rigs. It also provides performance tools, directional drilling services, tubular running services, and innovative technologies. It operates through the following business segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies.