Brokerages Set Nabors Industries Ltd. (NYSE:NBR) PT at $140.00

Shares of Nabors Industries Ltd. (NYSE:NBRGet Free Report) have received a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $137.00.

NBR has been the topic of a number of recent analyst reports. Benchmark downgraded shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Morgan Stanley lowered their target price on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday. Royal Bank of Canada decreased their price target on shares of Nabors Industries from $140.00 to $130.00 and set a “sector perform” rating on the stock in a research note on Friday, October 27th. 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. Finally, StockNews.com cut shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Thursday, December 7th.

Read Our Latest Research Report on Nabors Industries

Hedge Funds Weigh In On Nabors Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBR. BlackRock Inc. lifted its stake in shares of Nabors Industries by 8.8% in the 3rd quarter. BlackRock Inc. now owns 1,696,916 shares of the oil and gas company’s stock valued at $172,152,000 after purchasing an additional 136,874 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Nabors Industries by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 750,842 shares of the oil and gas company’s stock valued at $76,173,000 after acquiring an additional 59,309 shares during the last quarter. State Street Corp increased its holdings in shares of Nabors Industries by 15.2% in the 1st quarter. State Street Corp now owns 479,970 shares of the oil and gas company’s stock valued at $58,512,000 after acquiring an additional 63,266 shares during the last quarter. Gendell Jeffrey L grew its stake in Nabors Industries by 75.1% during the 3rd quarter. Gendell Jeffrey L now owns 384,182 shares of the oil and gas company’s stock worth $47,308,000 after buying an additional 164,816 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Nabors Industries by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock worth $24,102,000 after buying an additional 13,324 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Nabors Industries Stock Performance

NYSE NBR opened at $79.01 on Friday. The firm has a market cap of $748.22 million, a price-to-earnings ratio of -15.31 and a beta of 2.38. The company has a fifty day moving average price of $81.07 and a 200-day moving average price of $100.38. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.54. Nabors Industries has a 1 year low of $71.42 and a 1 year high of $178.34.

Nabors Industries Company Profile

(Get Free Report

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 U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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