Nabors Industries (NYSE:NBR) Price Target Cut to $32.00 by Analysts at Susquehanna

Nabors Industries (NYSE:NBR) had its price target cut by Susquehanna from $45.00 to $32.00 in a report released on Monday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Other analysts also recently issued research reports about the stock. Morgan Stanley decreased their price objective on shares of Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Barclays decreased their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and an average target price of $71.17.

Nabors Industries Stock Up 1.2 %

Shares of NYSE:NBR opened at $28.85 on Monday. Nabors Industries has a fifty-two week low of $25.11 and a fifty-two week high of $105.96. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The firm’s 50-day simple moving average is $40.12 and its 200-day simple moving average is $58.38. The company has a market cap of $277.08 million, a price-to-earnings ratio of -1.29 and a beta of 1.49.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. As a group, equities research analysts predict that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new stake in Nabors Industries during the third quarter worth approximately $220,000. Barclays PLC increased its holdings in shares of Nabors Industries by 60.8% during the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock worth $7,241,000 after buying an additional 42,483 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Nabors Industries by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company’s stock worth $13,286,000 after buying an additional 3,054 shares during the period. Inspire Investing LLC boosted its holdings in Nabors Industries by 8.8% in the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock valued at $397,000 after acquiring an additional 563 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Nabors Industries in the fourth quarter valued at $70,000. 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.