Nabors Industries (NYSE:NBR) Given New $32.00 Price Target at Susquehanna

Nabors Industries (NYSE:NBR) had its target price lowered by equities researchers at Susquehanna from $45.00 to $32.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price indicates a potential upside of 12.02% from the company’s previous close.

NBR has been the subject of a number of other reports. Barclays lowered their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Morgan Stanley lowered their target price on shares of Nabors Industries from $115.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $71.17.

Nabors Industries Stock Down 0.1 %

Shares of NYSE:NBR opened at $28.57 on Monday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The stock has a market cap of $274.36 million, a price-to-earnings ratio of -1.28 and a beta of 1.49. The company has a 50 day moving average of $40.58 and a 200-day moving average of $58.59. Nabors Industries has a one year low of $25.11 and a one year 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) earnings per share (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%. On average, sell-side analysts forecast that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in Nabors Industries during the 4th quarter worth about $36,000. US Bancorp DE boosted its position in shares of Nabors Industries by 234.9% during the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock worth $41,000 after buying an additional 505 shares during the period. GAMMA Investing LLC boosted its position in shares of Nabors Industries by 520.2% during the first quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company’s stock worth $45,000 after buying an additional 900 shares during the period. R Squared Ltd bought a new position in shares of Nabors Industries during the fourth quarter worth about $70,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Nabors Industries in the 4th quarter valued at approximately $97,000. Institutional investors and hedge funds 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.