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 analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $129.60.

NBR has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, February 12th. Susquehanna restated a “neutral” rating and set a $88.00 price objective on shares of Nabors Industries in a research note on Tuesday, February 13th. Atb Cap Markets downgraded shares of Nabors Industries from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 22nd. StockNews.com downgraded shares of Nabors Industries from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, Benchmark downgraded shares of Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th.

Nabors Industries Price Performance

NBR stock opened at $86.13 on Friday. The stock has a 50-day moving average price of $83.17 and a two-hundred day moving average price of $92.86. The stock has a market cap of $815.65 million, a PE ratio of -16.69 and a beta of 2.33. 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 has a 1 year low of $71.42 and a 1 year high of $141.47.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NBR. Pantechnicon Advisors LLP acquired a new position in shares of Nabors Industries during the third quarter worth $15,392,000. Panagora Asset Management Inc. acquired a new position in Nabors Industries in the third quarter valued at $2,673,000. American Century Companies Inc. lifted its holdings 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 valued at $14,221,000 after buying an additional 11,425 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in 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 valued at $241,000 after buying an additional 635 shares during the period. Finally, Barclays PLC lifted its holdings in Nabors Industries by 9.9% in the third quarter. Barclays PLC now owns 5,626 shares of the oil and gas company’s stock valued at $692,000 after buying an additional 509 shares during the period. 81.92% of the stock is owned by 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.