Analysts Set Nabors Industries Ltd. (NYSE:NBR) PT at $97.00

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) have been given an average recommendation of "Hold" by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $97.00.

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

Nabors Industries Stock Up 5.4 %

Shares of Nabors Industries stock traded up $2.92 during trading on Tuesday, reaching $57.17. The company had a trading volume of 383,238 shares, compared to its average volume of 290,609. The company has a market cap of $612.23 million, a price-to-earnings ratio of -3.11 and a beta of 2.05. Nabors Industries has a fifty-two week low of $50.15 and a fifty-two week high of $105.96. The firm's fifty day moving average is $69.51 and its 200-day moving average is $73.46. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88.

Hedge Funds Weigh In On Nabors Industries

Several large investors have recently bought and sold shares of NBR. nVerses Capital LLC bought a new stake in shares of Nabors Industries in the 3rd quarter worth $45,000. Signaturefd LLC lifted its holdings in Nabors Industries by 52.9% in the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company's stock valued at $88,000 after acquiring an additional 472 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Nabors Industries in the 3rd quarter worth approximately $220,000. The Manufacturers Life Insurance Company raised its holdings in shares of Nabors Industries by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company's stock valued at $254,000 after acquiring an additional 181 shares during the period. Finally, SG Americas Securities LLC raised its stake in Nabors Industries by 79.6% during the 3rd quarter. SG Americas Securities LLC now owns 4,017 shares of the oil and gas company's stock valued at $259,000 after purchasing an additional 1,780 shares during the period. 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.