Nabors Industries Ltd. (NYSE:NBR)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $3.36, but opened at $3.56. Nabors Industries shares last traded at $3.74, with a volume of 389199 shares traded.
NBR has been the topic of a number of recent research reports. Societe Generale set a $4.00 target price on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, February 28th. Citigroup decreased their target price on Nabors Industries from $8.00 to $6.70 and set a “buy” rating on the stock in a report on Tuesday, March 12th. ValuEngine upgraded Nabors Industries from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Zacks Investment Research upgraded Nabors Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, Cowen cut Nabors Industries from an “outperform” rating to a “market perform” rating and set a $2.75 target price on the stock. in a report on Thursday, January 17th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Nabors Industries has a consensus rating of “Hold” and a consensus price target of $7.13.
The stock has a market cap of $1.32 billion, a PE ratio of -2.97 and a beta of 2.28. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.39.
Large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $25,000. Versant Capital Management Inc lifted its position in shares of Nabors Industries by 921.4% in the first quarter. Versant Capital Management Inc now owns 7,579 shares of the oil and gas company’s stock worth $26,000 after buying an additional 6,837 shares during the last quarter. GWM Advisors LLC acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $27,000. Hellman Jordan Management Co. Inc. MA acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $28,000. Finally, M&T Bank Corp acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $29,000. 86.05% of the stock is owned by institutional investors.
About Nabors Industries (NYSE:NBR)
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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