Analysts Set Nabors Industries Ltd. (NYSE:NBR) PT at $97.00

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned a consensus rating of “Hold” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $97.00.

A number of equities analysts recently weighed in on NBR shares. Citigroup upped their target price on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI decreased their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a report on Thursday, October 24th. Barclays dropped their target price on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Susquehanna decreased their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a report on Wednesday, October 16th.

Hedge Funds Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. 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 acquiring an additional 181 shares during the period. Intech Investment Management LLC grew its holdings in Nabors Industries by 6.4% during the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock worth $346,000 after purchasing an additional 322 shares during the period. Signaturefd LLC grew its holdings in Nabors Industries by 52.9% during the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 472 shares during the period. AQR Capital Management LLC increased its position in Nabors Industries by 14.5% during the second quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock worth $338,000 after buying an additional 601 shares during the last quarter. Finally, Ensign Peak Advisors Inc raised 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 buying an additional 700 shares during the period. 81.92% of the stock is owned by institutional investors.

Nabors Industries Trading Up 6.0 %

NYSE:NBR opened at $60.60 on Tuesday. The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. The business’s 50-day simple moving average is $68.71 and its 200-day simple moving average is $73.23. Nabors Industries has a fifty-two week low of $50.15 and a fifty-two week high of $105.96. The stock has a market capitalization of $648.97 million, a PE ratio of -3.30 and a beta of 2.05.

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.