Nabors Industries Ltd. (NYSE:NBR) Receives $124.75 Average Target Price from Analysts

Nabors Industries Ltd. (NYSE:NBR) has received an average recommendation of “Hold” from the five research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $124.75.

A number of analysts recently issued reports on the company. Morgan Stanley lowered their price target on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, February 12th. Benchmark reaffirmed a “hold” rating on shares of Nabors Industries in a research report on Thursday, April 25th. Finally, Susquehanna reduced their price target on Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th.

Nabors Industries Trading Down 5.2 %

Shares of NBR stock opened at $74.87 on Monday. Nabors Industries has a 12-month low of $70.25 and a 12-month high of $141.47. The company has a current ratio of 1.78, a quick ratio of 1.53 and a debt-to-equity ratio of 4.81. The stock’s 50-day moving average price is $80.66 and its 200-day moving average price is $82.47. The stock has a market capitalization of $801.11 million, a price-to-earnings ratio of -5.42 and a beta of 2.37.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) EPS for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%. The company had revenue of $743.91 million during the quarter, compared to analysts’ expectations of $730.59 million. Equities research analysts predict that Nabors Industries will post -5.12 EPS for the current fiscal year.

Institutional Trading of Nabors Industries

A number of hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in shares of Nabors Industries by 111.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock valued at $32,415,000 after buying an additional 209,450 shares during the period. Apollo Management Holdings L.P. purchased a new stake in Nabors Industries in the fourth quarter valued at approximately $16,620,000. Gendell Jeffrey L raised its position in Nabors Industries by 75.1% in the third quarter. Gendell Jeffrey L now owns 384,182 shares of the oil and gas company’s stock valued at $47,308,000 after purchasing an additional 164,816 shares during the period. Pantechnicon Advisors LLP purchased a new stake in Nabors Industries in the third quarter valued at approximately $15,392,000. Finally, Vanguard Group Inc. raised its position in Nabors Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock valued at $70,550,000 after purchasing an additional 40,078 shares during the period. Institutional investors and hedge funds 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.