Nabors Industries Ltd. (NYSE:NBR) Receives Average Rating of “Hold” from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have been given a consensus recommendation of “Hold” by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $97.00.

Several equities research analysts recently issued reports on the company. Citigroup upped their price target on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI dropped their price target on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research report on Thursday, October 24th. Susquehanna dropped their price target on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective on shares of Nabors Industries in a research note on Wednesday, October 16th. Finally, Barclays lowered their price objective on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th.

Nabors Industries Stock Performance

Shares of NBR opened at $72.22 on Monday. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. The firm has a market cap of $689.70 million, a price-to-earnings ratio of -3.93 and a beta of 2.09. Nabors Industries has a 52-week low of $59.67 and a 52-week high of $105.96. The business’s 50 day moving average is $72.81 and its two-hundred day moving average is $74.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NBR. Swiss National Bank grew its stake in shares of Nabors Industries by 3.4% in the first quarter. Swiss National Bank now owns 18,500 shares of the oil and gas company’s stock worth $1,593,000 after purchasing an additional 600 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Nabors Industries in the first quarter valued at $471,000. Russell Investments Group Ltd. lifted its holdings in shares of Nabors Industries by 2,022.2% in the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 728 shares during the period. Everence Capital Management Inc. lifted its holdings in shares of Nabors Industries by 46.0% in the first quarter. Everence Capital Management Inc. now owns 4,600 shares of the oil and gas company’s stock valued at $396,000 after buying an additional 1,450 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 40,078 shares during the period. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Company Profile

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.