Nabors Industries Ltd. (NYSE:NBR) Receives Consensus Rating of "Hold" from Brokerages

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has been given an average rating of "Hold" by the eight research firms that are presently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $97.00.

A number of equities analysts have recently commented on the stock. Susquehanna decreased their price target on shares of Nabors Industries from $79.00 to $77.00 and set a "neutral" rating on the stock in a report on Thursday, October 24th. Barclays reduced their target price on Nabors Industries from $110.00 to $88.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $102.00 price target on shares of Nabors Industries in a research note on Wednesday, October 16th. Citigroup raised their price objective on Nabors Industries from $75.00 to $80.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Evercore ISI cut their target price on Nabors Industries from $94.00 to $85.00 and set an "in-line" rating for the company in a research note on Thursday, October 24th.

Institutional Trading of Nabors Industries

A number of institutional investors have recently made changes to their positions in NBR. Intech Investment Management LLC raised its holdings in Nabors Industries by 6.4% during the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company's stock valued at $346,000 after buying an additional 322 shares during the last quarter. Entropy Technologies LP purchased a new stake in shares of Nabors Industries during the third quarter worth about $600,000. 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 purchasing an additional 472 shares during the last quarter. nVerses Capital LLC purchased a new position in Nabors Industries during the 3rd quarter valued at about $45,000. Finally, Inspire Investing LLC bought a new position in Nabors Industries during the 3rd quarter valued at approximately $411,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

Nabors Industries Price Performance

Shares of NBR stock traded up $2.68 during trading on Monday, hitting $84.30. The company had a trading volume of 425,197 shares, compared to its average volume of 283,470. The stock's 50-day moving average is $72.06 and its two-hundred day moving average is $74.89. The stock has a market capitalization of $804.90 million, a price-to-earnings ratio of -4.44 and a beta of 2.09. The company has a quick ratio of 1.57, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. Nabors Industries has a 52 week low of $59.67 and a 52 week high of $105.96.

Nabors Industries Company Profile

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.