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

Nabors Industries Ltd. (NYSE:NBR) has been given an average rating of “Hold” by the six research firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation. The average 1-year price objective among analysts that have covered the stock in the last year is $73.00.

Several brokerages have weighed in on NBR. Susquehanna lowered their target price on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Barclays lowered their target price on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th.

Nabors Industries Trading Down 0.6 %

Shares of NBR opened at $43.53 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. Nabors Industries has a 12-month low of $34.42 and a 12-month high of $105.96. The firm has a 50-day moving average price of $50.76 and a 200 day moving average price of $62.65. The firm has a market capitalization of $418.05 million, a P/E ratio of -1.95 and a beta of 2.08.

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

Institutional Trading of Nabors Industries

Hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $36,000. US Bancorp DE lifted its position in shares of Nabors Industries by 234.9% during 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. R Squared Ltd acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $70,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $97,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Nabors Industries during the third quarter worth about $220,000. Institutional investors and hedge funds 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.