Brokerages Set Nabors Industries Ltd. (NYSE:NBR) Target Price at $86.40

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) have been given an average recommendation of "Hold" by the six research firms that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $79.40.

Several equities analysts have weighed in on the company. Citigroup raised their target price on Nabors Industries from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Barclays cut their price objective on Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday.

Nabors Industries Stock Down 6.0 %

NYSE:NBR traded down $2.75 during mid-day trading on Wednesday, reaching $43.32. The stock had a trading volume of 369,126 shares, compared to its average volume of 334,038. The stock has a market cap of $415.88 million, a P/E ratio of -1.94 and a beta of 2.02. The business's 50 day moving average is $57.41 and its 200 day moving average is $68.18. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. Nabors Industries has a fifty-two week low of $42.72 and a fifty-two week high of $105.96.

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) 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%. As a group, sell-side analysts predict that Nabors Industries will post -6.22 earnings per share for the current year.

Hedge Funds Weigh In On Nabors Industries

Institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nabors Industries by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company's stock valued at $299,000 after purchasing an additional 228 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Nabors Industries by 6.4% during the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company's stock worth $346,000 after buying an additional 322 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Nabors Industries by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company's stock worth $502,000 after acquiring an additional 459 shares during the last quarter. Signaturefd LLC grew its stake in shares of Nabors Industries by 52.9% in the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company's stock worth $88,000 after acquiring an additional 472 shares during the last quarter. Finally, US Bancorp DE increased its position in 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 acquiring an additional 505 shares during the period. 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.