Nabors Industries Ltd. (NYSE:NBR) Receives Consensus Rating of “Hold” from Analysts

Nabors Industries Ltd. (NYSE:NBR) has received a consensus recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. Six equities research 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 brokerages that have issued a report on the stock in the last year is $97.00.

NBR has been the subject of a number of recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price on shares of Nabors Industries in a report on Wednesday, October 16th. Barclays decreased their price objective 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. 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 note on Thursday, October 24th. Citigroup raised their target price on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Susquehanna lowered their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, October 24th.

Nabors Industries Stock Performance

Shares of NBR stock opened at $61.57 on Tuesday. The firm has a 50 day moving average of $68.21 and a two-hundred day moving average of $73.34. The stock has a market capitalization of $659.35 million, a PE ratio of -3.35 and a beta of 2.05. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. Nabors Industries has a 52 week low of $50.15 and a 52 week high of $105.96.

Hedge Funds Weigh In On Nabors Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBR. The Manufacturers Life Insurance Company raised 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 purchasing an additional 181 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Nabors Industries by 6.4% in the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after buying an additional 322 shares during the last quarter. Signaturefd LLC raised its stake 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 acquiring an additional 472 shares in the last quarter. AQR Capital Management LLC lifted its position in Nabors Industries by 14.5% in the second quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock valued at $338,000 after acquiring an additional 601 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in Nabors Industries by 8.8% in the second quarter. Ensign Peak Advisors Inc now owns 8,649 shares of the oil and gas company’s stock valued at $615,000 after acquiring an additional 700 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.