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

Nabors Industries Ltd. (NYSE:NBR) has received a consensus recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $97.00.

NBR has been the topic of several analyst reports. Evercore ISI dropped their target price on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research note 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 report on Wednesday, October 16th. Susquehanna lowered their price objective on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Barclays lowered their price objective on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Finally, Citigroup increased their price objective on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st.

Nabors Industries Price Performance

Shares of NBR opened at $54.25 on Tuesday. The stock has a market cap of $580.96 million, a PE ratio of -2.95 and a beta of 2.05. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88. Nabors Industries has a fifty-two week low of $50.15 and a fifty-two week high of $105.96. The firm’s 50-day simple moving average is $69.91 and its two-hundred day simple moving average is $73.54.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NBR. Barclays PLC raised its position in Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock worth $7,241,000 after acquiring an additional 42,483 shares during the period. Bank of New York Mellon Corp raised its position in Nabors Industries by 42.8% in the second quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock worth $8,189,000 after acquiring an additional 34,473 shares during the period. American Century Companies Inc. increased its stake in shares of Nabors Industries by 20.2% in the second quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company’s stock worth $14,250,000 after purchasing an additional 33,616 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Nabors Industries in the second quarter worth $1,242,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Nabors Industries by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after purchasing an additional 16,890 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors.

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.