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

Nabors Industries (NYSE:NBR - Free Report) had its target price reduced by Morgan Stanley from $115.00 to $75.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company's stock.

NBR has been the topic of several other research reports. Barclays dropped their price objective on shares of Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Susquehanna cut their price target on Nabors Industries from $53.00 to $45.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $73.33.

Nabors Industries Trading Down 0.0 %

NBR stock traded down $0.01 during midday trading on Thursday, hitting $41.73. The company had a trading volume of 366,470 shares, compared to its average volume of 324,902. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. Nabors Industries has a 52 week low of $34.42 and a 52 week high of $105.96. The stock has a market cap of $400.77 million, a price-to-earnings ratio of -1.87 and a beta of 2.08. The stock's 50 day moving average price is $48.47 and its 200 day moving average price is $61.79.

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Nabors Industries (NYSE:NBR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. As a group, equities research analysts expect that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Miller Value Partners LLC lifted its stake in Nabors Industries by 99.5% during the 4th 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 period. Two Sigma Investments LP grew its holdings in shares of Nabors Industries by 300.7% in the fourth quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company's stock worth $5,185,000 after acquiring an additional 135,877 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Nabors Industries during the fourth quarter valued at $6,602,000. Millennium Management LLC lifted its holdings in Nabors Industries by 669.9% in the fourth quarter. Millennium Management LLC now owns 72,792 shares of the oil and gas company's stock valued at $4,162,000 after acquiring an additional 85,565 shares during the period. Finally, Barclays PLC boosted its position in Nabors Industries by 74.6% in the fourth quarter. Barclays PLC now owns 196,108 shares of the oil and gas company's stock worth $11,211,000 after purchasing an additional 83,790 shares during the last quarter. Institutional investors 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.