Nabors Industries (NYSE:NBR) Price Target Cut to $32.00 by Analysts at Susquehanna

Nabors Industries (NYSE:NBR - Free Report) had its price objective cut by Susquehanna from $45.00 to $32.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company's stock.

Other research analysts also recently issued research reports about the stock. Morgan Stanley lowered their price target on shares of Nabors Industries from $115.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Barclays dropped their target price on Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $71.17.

Nabors Industries Stock Performance

Shares of NYSE NBR traded up $2.12 during midday trading on Monday, hitting $30.89. 390,239 shares of the company's stock traded hands, compared to its average volume of 340,899. The firm has a fifty day moving average of $39.15 and a 200 day moving average of $57.89. Nabors Industries has a 1 year low of $25.11 and a 1 year high of $105.96. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. The stock has a market capitalization of $296.65 million, a price-to-earnings ratio of -1.38 and a beta of 1.49.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS for the quarter, missing analysts' consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. On average, analysts forecast that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Investors Weigh In On Nabors Industries

Several hedge funds have recently modified their holdings of NBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Nabors Industries by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company's stock worth $299,000 after buying an additional 228 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Nabors Industries by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company's stock valued at $502,000 after purchasing an additional 459 shares during the last quarter. US Bancorp DE raised its holdings in Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock worth $41,000 after purchasing an additional 505 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Nabors Industries by 8.8% in the 4th quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company's stock valued at $397,000 after buying an additional 563 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Nabors Industries during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

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.