Nabors Industries (NYSE:NBR) Reaches New 52-Week Low - Time to Sell?

Nabors Industries Ltd. (NYSE:NBR - Get Free Report)'s stock price reached a new 52-week low on Monday . The company traded as low as $50.15 and last traded at $50.97, with a volume of 56732 shares. The stock had previously closed at $51.19.

Analyst Upgrades and Downgrades

NBR has been the subject of several recent research reports. Susquehanna reduced their target price on shares of Nabors Industries from $79.00 to $77.00 and set a "neutral" rating for the company in a report on Thursday, October 24th. Evercore ISI decreased their price objective on Nabors Industries from $94.00 to $85.00 and set an "in-line" rating for the company in a report on Thursday, October 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $102.00 target price on shares of Nabors Industries in a research note on Wednesday, October 16th. Barclays reduced their price target on Nabors Industries from $110.00 to $88.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 16th. Finally, Citigroup upped their price objective on Nabors Industries from $75.00 to $80.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $97.00.

Nabors Industries Stock Up 6.0 %

The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. The business has a 50-day simple moving average of $69.91 and a 200-day simple moving average of $73.54. The company has a market cap of $580.96 million, a PE ratio of -2.95 and a beta of 2.05.

Institutional Investors Weigh In On Nabors Industries

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in Nabors Industries by 60.8% during the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company's stock worth $7,241,000 after acquiring an additional 42,483 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Nabors Industries by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company's stock worth $8,189,000 after purchasing an additional 34,473 shares in the last quarter. American Century Companies Inc. raised its position in shares of Nabors Industries by 20.2% during the 2nd quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company's stock worth $14,250,000 after purchasing an additional 33,616 shares during the last quarter. Hsbc Holdings PLC purchased a new position in Nabors Industries in the 2nd quarter valued at about $1,242,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Nabors Industries by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company's stock worth $20,634,000 after buying an additional 16,890 shares during the last quarter. 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.