Nabors Industries (NYSE:NBR) Trading Up 3.5% - What's Next?

Nabors Industries Ltd. (NYSE:NBR - Get Free Report)'s stock price was up 3.5% during trading on Tuesday . The company traded as high as $56.65 and last traded at $56.15. Approximately 21,111 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 289,132 shares. The stock had previously closed at $54.25.

Analysts Set New Price Targets

Several analysts have issued reports on NBR shares. Evercore ISI lowered their target price 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. Citigroup increased their price objective on Nabors Industries from $75.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Royal Bank of Canada restated a "sector perform" rating and issued a $102.00 price objective on shares of Nabors Industries in a research report on Wednesday, October 16th. Susquehanna decreased their price objective on Nabors Industries from $79.00 to $77.00 and set a "neutral" rating on the stock in a 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 for the company in a research note on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Nabors Industries currently has a consensus rating of "Hold" and a consensus price target of $97.00.

Nabors Industries Stock Performance

The company has a market cap of $612.23 million, a P/E ratio of -3.11 and a beta of 2.05. The business has a 50 day moving average price of $69.51 and a two-hundred day moving average price of $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.

Institutional Trading of Nabors Industries

Several hedge funds and other institutional investors have recently bought and sold shares of NBR. Geode Capital Management LLC grew its holdings in shares of Nabors Industries by 1.5% in the third quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company's stock worth $13,286,000 after purchasing an additional 3,054 shares during the last quarter. Barclays PLC grew its holdings in Nabors Industries by 60.8% in the 3rd 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 last quarter. Wellington Management Group LLP bought a new stake in Nabors Industries in the 3rd quarter worth $220,000. Centiva Capital LP purchased a new position in shares of Nabors Industries in the third quarter valued at about $531,000. Finally, Atom Investors LP bought a new position in shares of Nabors Industries during the third quarter valued at about $332,000. Institutional investors 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.