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

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) have been given a consensus rating of "Hold" by the seven brokerages that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $97.00.

NBR has been the subject of a number of research reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $102.00 target price on shares of Nabors Industries in a research report on Wednesday, October 16th. Evercore ISI reduced their target price on Nabors Industries from $94.00 to $85.00 and set an "in-line" rating for the company in a research report on Thursday, October 24th. 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. 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, Barclays lowered their price target on shares of Nabors Industries from $110.00 to $88.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 16th.

Nabors Industries Stock Performance

NBR traded down $1.84 during midday trading on Friday, reaching $62.64. The company had a trading volume of 208,933 shares, compared to its average volume of 246,009. The business has a 50-day moving average price of $64.71 and a two-hundred day moving average price of $72.81. Nabors Industries has a 12-month low of $50.15 and a 12-month high of $105.96. The stock has a market cap of $670.84 million, a PE ratio of -3.41 and a beta of 2.05. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NBR. Dimensional Fund Advisors LP grew its stake in Nabors Industries by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company's stock worth $20,634,000 after purchasing an additional 16,890 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Nabors Industries in the second quarter worth $1,242,000. Intech Investment Management LLC bought a new position in Nabors Industries during the 2nd quarter valued at about $359,000. Ensign Peak Advisors Inc lifted its position in Nabors Industries by 8.8% during the second quarter. Ensign Peak Advisors Inc now owns 8,649 shares of the oil and gas company's stock valued at $615,000 after purchasing an additional 700 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of Nabors Industries by 14.5% in the 2nd quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company's stock worth $338,000 after buying an additional 601 shares during the last quarter. 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.