Nabors Industries (NYSE:NBR) PT Lowered to $77.00 at Susquehanna

Nabors Industries (NYSE:NBR - Free Report) had its target price decreased by Susquehanna from $79.00 to $77.00 in a research note issued to investors on Thursday morning, Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas company's stock.

Several other research analysts also recently commented on the company. Citigroup downgraded Nabors Industries from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $110.00 to $75.00 in a research note on Friday, September 13th. Barclays lowered their price objective on shares of 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. Evercore ISI cut their target price 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. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $102.00 price target on shares of Nabors Industries in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nabors Industries presently has an average rating of "Hold" and a consensus price target of $96.17.

Nabors Industries Price Performance

Shares of NYSE NBR traded up $2.90 during trading hours on Thursday, hitting $73.07. 428,873 shares of the stock were exchanged, compared to its average volume of 280,815. The company's fifty day simple moving average is $72.97 and its two-hundred day simple moving average is $75.20. The company has a market cap of $782.00 million, a PE ratio of -5.03 and a beta of 2.11. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82. Nabors Industries has a 1-year low of $59.67 and a 1-year high of $115.23.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $742.98 million during the quarter, compared to analyst estimates of $737.91 million. During the same period in the prior year, the business posted ($2.26) EPS. The company's revenue for the quarter was down 4.6% compared to the same quarter last year. On average, sell-side analysts predict that Nabors Industries will post -12.24 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NBR. The Manufacturers Life Insurance Company grew its position in shares of Nabors Industries by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company's stock valued at $254,000 after buying an additional 181 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Nabors Industries by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,471 shares of the oil and gas company's stock valued at $558,000 after acquiring an additional 399 shares during the last quarter. Signaturefd LLC increased 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 valued at $88,000 after purchasing an additional 472 shares during the period. Swiss National Bank raised its holdings in Nabors Industries by 3.4% during the 1st quarter. Swiss National Bank now owns 18,500 shares of the oil and gas company's stock worth $1,593,000 after purchasing an additional 600 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position 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 purchasing an additional 601 shares during the period. 81.92% of the stock is 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.