Susquehanna Cuts Nabors Industries (NYSE:NBR) Price Target to $45.00

Nabors Industries (NYSE:NBR) had its target price cut by Susquehanna from $53.00 to $45.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Separately, Barclays dropped 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, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.00.

Nabors Industries Stock Up 10.8 %

NBR stock opened at $43.45 on Thursday. The stock has a market cap of $417.30 million, a P/E ratio of -1.94 and a beta of 2.08. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. Nabors Industries has a twelve month low of $34.42 and a twelve month high of $105.96. The company’s 50 day moving average is $52.65 and its two-hundred day moving average is $63.79.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS for the quarter, missing the consensus estimate 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%. Research analysts expect that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Trading of Nabors Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Nabors Industries in the fourth quarter valued at approximately $36,000. US Bancorp DE increased its stake in Nabors Industries by 234.9% in the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 505 shares during the period. R Squared Ltd purchased a new position in Nabors Industries during the 4th quarter worth $70,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Nabors Industries in the 4th quarter worth $97,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Nabors Industries in the third quarter valued at about $220,000. 81.92% of the stock is owned by institutional investors and hedge funds.

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.