Nabors Industries (NYSE:NBR) Hits New 52-Week Low - Should You Sell?

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $52.75 and last traded at $53.53, with a volume of 32242 shares changing hands. The stock had previously closed at $53.77.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NBR shares. Royal Bank of Canada restated a "sector perform" rating and set a $102.00 price target on shares of Nabors Industries in a report on Wednesday, October 16th. Citigroup lifted their price target on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Evercore ISI reduced their price objective on shares of Nabors Industries from $94.00 to $85.00 and set an "in-line" rating on the stock in a research report on Thursday, October 24th. Susquehanna dropped their target price on Nabors Industries from $79.00 to $77.00 and set a "neutral" rating for the company in a research report on Thursday, October 24th. Finally, Barclays cut 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. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $97.00.

Nabors Industries Stock Performance

The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. The firm has a market cap of $567.15 million, a price-to-earnings ratio of -2.88 and a beta of 2.05. The firm has a fifty day simple moving average of $72.20 and a two-hundred day simple moving average of $74.08.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Nabors Industries during the third quarter worth $45,000. Signaturefd LLC grew its position in Nabors Industries by 52.9% during the 3rd 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 period. SG Americas Securities LLC acquired a new position in shares of Nabors Industries in the 2nd quarter valued at about $159,000. Wellington Management Group LLP purchased a new stake in shares of Nabors Industries in the third quarter worth about $220,000. Finally, The Manufacturers Life Insurance Company grew its holdings in 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 worth $254,000 after acquiring an additional 181 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

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.