Susquehanna Cuts Nabors Industries (NYSE:NBR) Price Target to $79.00

Nabors Industries (NYSE:NBR) had its target price decreased by Susquehanna from $88.00 to $79.00 in a research report report published on Friday morning, Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas company’s stock.

A number of other analysts have also recently weighed in on the stock. Benchmark reaffirmed a hold rating on shares of Nabors Industries in a research note on Thursday, April 25th. Morgan Stanley lowered their target price on Nabors Industries from $160.00 to $150.00 and set an overweight rating for the company in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Nabors Industries currently has a consensus rating of Hold and a consensus price target of $127.80.

Nabors Industries Price Performance

Nabors Industries stock opened at $78.07 on Friday. The stock has a fifty day moving average of $83.00 and a 200-day moving average of $86.62. The stock has a market capitalization of $835.35 million, a P/E ratio of -5.65 and a beta of 2.33. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.23 and a current ratio of 1.78. Nabors Industries has a 52 week low of $71.42 and a 52 week high of $141.47.

Nabors Industries (NYSE:NBR) 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). The company had revenue of $743.91 million during the quarter, compared to the consensus estimate of $730.59 million. Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%. On average, sell-side analysts expect that Nabors Industries will post -5.56 earnings per share for the current fiscal year.

Institutional Trading of Nabors Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. lifted its holdings 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 worth $790,000 after buying an additional 340 shares during the period. Sippican Capital Advisors acquired a new position in shares of Nabors Industries in the third quarter worth approximately $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Nabors Industries by 48.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 635 shares during the period. Panagora Asset Management Inc. bought a new stake in Nabors Industries in the third quarter valued at approximately $2,673,000. Finally, Nisa Investment Advisors LLC increased its position in Nabors Industries by 0.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock valued at $2,070,000 after purchasing an additional 148 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.