Nabors Industries Ltd. (NYSE:NBR) Receives $129.60 Consensus PT from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have been given a consensus recommendation of “Hold” by the six research firms that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $127.80.

Several brokerages have commented on NBR. Benchmark reaffirmed a “hold” rating on shares of Nabors Industries in a research report on Thursday. Morgan Stanley cut their price target on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Finally, Susquehanna decreased their price objective on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating for the company in a report on Friday.

Nabors Industries Stock Performance

Shares of NYSE:NBR opened at $77.20 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.23 and a debt-to-equity ratio of 4.81. Nabors Industries has a 12 month low of $71.42 and a 12 month high of $141.47. The company has a market capitalization of $731.08 million, a price-to-earnings ratio of -5.59 and a beta of 2.33. The firm’s 50-day moving average is $83.14 and its 200 day moving average is $87.09.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. The business had revenue of $743.91 million for the quarter, compared to analysts’ expectations of $730.59 million. Research analysts predict that Nabors Industries will post -5.56 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NBR. Harbor Capital Advisors Inc. boosted its position in Nabors Industries by 5.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,416 shares of the oil and gas company’s stock valued at $790,000 after acquiring an additional 340 shares in the last quarter. Sippican Capital Advisors purchased a new stake in shares of Nabors Industries during the third quarter valued at about $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nabors Industries by 48.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 635 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of Nabors Industries in the 3rd quarter valued at about $2,673,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Nabors Industries by 0.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock worth $2,070,000 after buying an additional 148 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

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.