Brokerages Set Nabors Industries Ltd. (NYSE:NBR) Target Price at $73.33

Shares of Nabors Industries Ltd. (NYSE:NBR) have received an average rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $73.33.

NBR has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Barclays cut their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Susquehanna decreased their price objective on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th.

Nabors Industries Stock Up 4.2 %

NYSE:NBR opened at $28.71 on Thursday. Nabors Industries has a twelve month low of $25.11 and a twelve month high of $105.96. The firm has a market capitalization of $275.73 million, a price-to-earnings ratio of -1.28 and a beta of 1.49. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The stock’s 50 day moving average price is $41.70 and its two-hundred day moving average price is $59.04.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share 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%. Equities research analysts expect that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

Several institutional investors and hedge funds have recently modified their holdings of NBR. Public Employees Retirement System of Ohio bought a new stake in Nabors Industries in the 4th quarter valued at about $36,000. US Bancorp DE raised its position in shares of Nabors Industries by 234.9% in the fourth 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 in the last quarter. R Squared Ltd bought a new stake in shares of Nabors Industries in the fourth quarter valued at approximately $70,000. KLP Kapitalforvaltning AS acquired a new stake in Nabors Industries during the fourth quarter worth approximately $97,000. Finally, Wellington Management Group LLP bought a new position in Nabors Industries during the 3rd quarter worth $220,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.