Benchmark reissued their hold rating on shares of Nabors Industries (NYSE:NBR – Free Report) in a report released on Thursday morning, Benzinga reports.
NBR has been the topic of a number of other reports. Morgan Stanley reduced their target price on shares of Nabors Industries from $160.00 to $150.00 and set an overweight rating on the stock in a report on Monday, February 12th. Susquehanna restated a neutral rating and set a $88.00 price target on shares of Nabors Industries in a report on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $127.80.
View Our Latest Research Report on NBR
Nabors Industries Trading Up 1.3 %
Nabors Industries (NYSE:NBR – Get Free Report) last posted its earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) EPS for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92). Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. The firm had revenue of $743.91 million for the quarter, compared to the consensus estimate of $730.59 million. Equities research analysts predict that Nabors Industries will post -5.56 EPS for the current fiscal year.
Hedge Funds Weigh In On Nabors Industries
A number of large investors have recently bought and sold shares of the business. RIA Advisory Group LLC purchased a new position in Nabors Industries in the 4th quarter worth about $980,000. Pantechnicon Advisors LLP bought a new stake in shares of Nabors Industries during the third quarter valued at approximately $15,392,000. Panagora Asset Management Inc. purchased a new stake in shares of Nabors Industries in the third quarter valued at approximately $2,673,000. American Century Companies Inc. grew its stake in Nabors Industries by 11.0% in the third quarter. American Century Companies Inc. now owns 115,486 shares of the oil and gas company’s stock worth $14,221,000 after purchasing an additional 11,425 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Nabors Industries by 48.0% during 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 during the period. 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.
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