Nabors Industries Ltd. (NYSE:NBR) Receives Average Recommendation of "Hold" from Analysts

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has been given an average recommendation of "Hold" by the seven ratings firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $98.80.

A number of equities research analysts have recently commented on the company. Barclays dropped their target price on Nabors Industries from $110.00 to $88.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Royal Bank of Canada reissued a "sector perform" rating and set a $102.00 target price on shares of Nabors Industries in a research note on Wednesday. Finally, Citigroup downgraded shares of Nabors Industries from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $110.00 to $75.00 in a research note on Friday, September 13th.

Nabors Industries Stock Performance

NBR stock traded down $1.03 during trading on Thursday, reaching $74.36. The stock had a trading volume of 282,879 shares, compared to its average volume of 275,694. Nabors Industries has a 52 week low of $59.67 and a 52 week high of $127.56. The stock's 50 day moving average is $73.98 and its two-hundred day moving average is $75.75. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 5.01. The firm has a market cap of $795.80 million, a PE ratio of -5.38 and a beta of 2.11.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($2.52). Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. The firm had revenue of $742.98 million during the quarter, compared to analysts' expectations of $737.91 million. During the same period in the prior year, the company posted ($2.26) EPS. The company's revenue was down 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that Nabors Industries will post -12.24 earnings per share for the current year.

Institutional Investors Weigh In On Nabors Industries

A number of large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its stake in Nabors Industries by 111.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company's stock valued at $32,415,000 after buying an additional 209,450 shares in the last quarter. Quadrature Capital Ltd boosted its position in Nabors Industries by 75.1% during the 4th quarter. Quadrature Capital Ltd now owns 13,564 shares of the oil and gas company's stock worth $1,108,000 after acquiring an additional 5,818 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Nabors Industries by 29.1% in the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company's stock valued at $127,000 after acquiring an additional 332 shares during the last quarter. Hartree Partners LP grew its position in shares of Nabors Industries by 41.3% in the 1st quarter. Hartree Partners LP now owns 40,000 shares of the oil and gas company's stock valued at $3,445,000 after acquiring an additional 11,690 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of Nabors Industries by 29.2% during the 1st quarter. GSA Capital Partners LLP now owns 32,992 shares of the oil and gas company's stock worth $2,842,000 after acquiring an additional 7,457 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Company Profile

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.