Nabors Industries (NYSE:NBR) Stock Rating Reaffirmed by Susquehanna

Nabors Industries (NYSE:NBR)‘s stock had its “neutral” rating reaffirmed by investment analysts at Susquehanna in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $88.00 target price on the oil and gas company’s stock. Susquehanna’s target price points to a potential upside of 3.24% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Atb Cap Markets cut shares of Nabors Industries from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 22nd. Morgan Stanley dropped their price target on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, February 12th. Finally, Benchmark downgraded Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $129.60.

Nabors Industries Stock Performance

NYSE:NBR opened at $85.24 on Monday. The stock has a 50-day moving average price of $83.66 and a 200 day moving average price of $90.45. The stock has a market capitalization of $807.18 million, a P/E ratio of -16.52 and a beta of 2.33. Nabors Industries has a 12-month low of $71.42 and a 12-month high of $141.47. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 4.63.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. The company had revenue of $737.84 million for the quarter, compared to analysts’ expectations of $749.52 million. Equities research analysts forecast that Nabors Industries will post -4.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Nabors Industries in the 1st quarter valued at approximately $25,000. US Bancorp DE lifted its position in Nabors Industries by 72.1% in the second quarter. US Bancorp DE now owns 389 shares of the oil and gas company’s stock worth $36,000 after buying an additional 163 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Nabors Industries by 89.6% in the third quarter. Tower Research Capital LLC TRC now owns 565 shares of the oil and gas company’s stock worth $57,000 after buying an additional 267 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Nabors Industries by 202.4% during the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock worth $61,000 after buying an additional 502 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new position in Nabors Industries during the fourth quarter valued at $80,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.