Nabors Industries Ltd. (NYSE:NBR) Receives Average Rating of “Hold” from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $129.60.

Several analysts recently issued reports on NBR shares. Benchmark cut Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Morgan Stanley cut their price objective on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, February 12th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $88.00 price objective on shares of Nabors Industries in a research report on Monday, April 8th.

Nabors Industries Price Performance

Nabors Industries stock opened at $80.25 on Thursday. Nabors Industries has a one year low of $71.42 and a one year high of $141.47. The business has a fifty day moving average price of $83.43 and a 200-day moving average price of $87.61. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.23. The firm has a market capitalization of $759.92 million, a P/E ratio of -15.55 and a beta of 2.33.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.54) by ($2.30). The business had revenue of $737.84 million for the quarter, compared to the consensus estimate of $749.52 million. Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. As a group, equities research analysts forecast that Nabors Industries will post -5.56 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

A number of hedge funds have recently added to or reduced their stakes in NBR. Harbor Capital Advisors Inc. raised its stake in Nabors Industries by 5.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,416 shares of the oil and gas company’s stock valued at $790,000 after buying an additional 340 shares during the last quarter. Sippican Capital Advisors purchased a new stake in shares of Nabors Industries in the 3rd quarter worth $205,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Nabors Industries by 48.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 635 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Nabors Industries in the 3rd quarter worth $2,673,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Nabors Industries by 0.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock worth $2,070,000 after purchasing an additional 148 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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.