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

Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $97.00.

A number of equities research analysts have commented on NBR shares. Barclays dropped 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. Citigroup raised their price target on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI lowered their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a report on Wednesday, October 16th. Finally, Susquehanna lowered their price target on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, October 24th.

Nabors Industries Stock Down 2.9 %

NBR stock opened at $62.64 on Friday. The company’s 50 day moving average price is $64.71 and its 200 day moving average price is $72.81. The firm has a market capitalization of $670.84 million, a price-to-earnings ratio of -3.41 and a beta of 2.05. Nabors Industries has a fifty-two week low of $50.15 and a fifty-two week high of $105.96. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88.

Institutional Investors Weigh In On Nabors Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBR. Dimensional Fund Advisors LP raised its holdings 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 valued at $20,634,000 after buying an additional 16,890 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Nabors Industries during the 2nd quarter valued at approximately $1,242,000. Intech Investment Management LLC purchased a new stake in Nabors Industries during the 2nd quarter valued at approximately $359,000. Ensign Peak Advisors Inc lifted its position in Nabors Industries by 8.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 8,649 shares of the oil and gas company’s stock worth $615,000 after acquiring an additional 700 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Nabors Industries by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock valued at $338,000 after purchasing an additional 601 shares during the last quarter. Hedge funds and other 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.