Nabors Industries Ltd. (NYSE:NBR) Receives $97.00 Consensus PT from Analysts

Nabors Industries Ltd. (NYSE:NBR) has been assigned an average recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $97.00.

A number of research firms have commented on NBR. Citigroup raised their target price on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Evercore ISI cut their price target on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target on shares of Nabors Industries in a research note on Wednesday, October 16th. Barclays cut their price target 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. Finally, Susquehanna cut their price target on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th.

Institutional Trading of Nabors Industries

Institutional investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new position in Nabors Industries during the 3rd quarter worth approximately $45,000. Russell Investments Group Ltd. lifted its position in Nabors Industries by 2,022.2% during the 1st quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 728 shares in the last quarter. Signaturefd LLC lifted 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 worth $88,000 after acquiring an additional 472 shares in the last quarter. SG Americas Securities LLC acquired a new position in Nabors Industries during the 2nd quarter worth approximately $159,000. Finally, Wellington Management Group LLP acquired a new position in Nabors Industries during the 3rd quarter worth approximately $220,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Price Performance

Nabors Industries stock opened at $72.22 on Monday. Nabors Industries has a one year low of $59.67 and a one year high of $105.96. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88. The business has a fifty day moving average of $72.81 and a two-hundred day moving average of $74.93. The company has a market cap of $689.70 million, a P/E ratio of -3.93 and a beta of 2.09.

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.