Nabors Industries (NYSE:NBR) Price Target Cut to $75.00 by Analysts at Morgan Stanley

Nabors Industries (NYSE:NBR) had its target price trimmed by Morgan Stanley from $115.00 to $75.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the oil and gas company’s stock.

A number of other equities analysts have also commented on the stock. Susquehanna reduced their target price on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Barclays decreased their target price on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research report 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.33.

Nabors Industries Price Performance

NBR opened at $42.88 on Thursday. The business has a fifty day moving average of $48.97 and a 200 day moving average of $62.02. The stock has a market cap of $411.82 million, a P/E ratio of -1.92 and a beta of 2.08. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. Nabors Industries has a 52-week low of $34.42 and a 52-week high of $105.96.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) 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, sell-side analysts anticipate that Nabors Industries will post -6.22 EPS for the current year.

Institutional Trading of Nabors Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new stake in Nabors Industries during the fourth quarter valued at about $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Nabors Industries by 16.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,723 shares of the oil and gas company’s stock worth $1,413,000 after buying an additional 3,456 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Nabors Industries by 169.1% during the 4th quarter. Two Sigma Advisers LP now owns 29,600 shares of the oil and gas company’s stock worth $1,692,000 after acquiring an additional 18,600 shares in the last quarter. Two Sigma Investments LP lifted its position in Nabors Industries by 300.7% during the fourth quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company’s stock valued at $5,185,000 after acquiring an additional 135,877 shares during the last quarter. Finally, Thomist Capital Management LP acquired a new stake in Nabors Industries in the fourth quarter valued at approximately $1,085,000. 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.