Barclays Has Lowered Expectations for Nabors Industries (NYSE:NBR) Stock Price

Nabors Industries (NYSE:NBR - Get Free Report) had its price target dropped by Barclays from $90.00 to $53.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the oil and gas company's stock. Barclays's target price suggests a potential upside of 22.34% from the stock's previous close.

Several other analysts also recently issued reports on NBR. Evercore ISI dropped their price target on Nabors Industries from $94.00 to $85.00 and set an "in-line" rating on the stock in a research note on Thursday, October 24th. Citigroup lifted their price target on Nabors Industries from $75.00 to $80.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Susquehanna dropped their price target on Nabors Industries from $79.00 to $77.00 and set a "neutral" rating on the stock in a research note on Thursday, October 24th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Nabors Industries currently has a consensus rating of "Hold" and an average price target of $79.40.

Nabors Industries Trading Down 6.0 %

Nabors Industries stock traded down $2.75 during mid-day trading on Wednesday, hitting $43.32. 369,085 shares of the company's stock were exchanged, compared to its average volume of 311,437. The firm has a market capitalization of $416.05 million, a P/E ratio of -1.94 and a beta of 2.02. Nabors Industries has a fifty-two week low of $42.72 and a fifty-two week high of $105.96. 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 company's 50 day simple moving average is $57.85 and its 200-day simple moving average is $68.43.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) 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, equities analysts anticipate that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Trading of Nabors Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Nabors Industries by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 696,155 shares of the oil and gas company's stock valued at $39,799,000 after acquiring an additional 18,017 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nabors Industries by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company's stock valued at $16,556,000 after acquiring an additional 27,849 shares during the last quarter. American Century Companies Inc. increased its position in shares of Nabors Industries by 12.0% in the fourth quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company's stock valued at $16,340,000 after acquiring an additional 30,537 shares during the last quarter. Miller Value Partners LLC increased its position in shares of Nabors Industries by 99.5% in the fourth quarter. Miller Value Partners LLC now owns 281,195 shares of the oil and gas company's stock valued at $16,076,000 after acquiring an additional 140,230 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Nabors Industries by 1.5% in the third quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company's stock valued at $13,286,000 after acquiring an additional 3,054 shares during the last quarter. 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.