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

Nabors Industries Ltd. (NYSE:NBRGet Free Report) has been assigned an average recommendation of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $97.00.

Several equities analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price objective on shares of Nabors Industries in a report on Wednesday, October 16th. Susquehanna dropped their target price on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Barclays lowered their price objective 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. Evercore ISI lowered their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup upped their target price on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st.

Read Our Latest Report on Nabors Industries

Nabors Industries Stock Performance

NBR stock opened at $61.10 on Friday. The firm has a market cap of $654.36 million, a PE ratio of -3.32 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. The business has a 50 day moving average of $64.48 and a 200-day moving average of $72.69. Nabors Industries has a 12-month low of $50.15 and a 12-month high of $105.96.

Institutional Trading of Nabors Industries

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Nabors Industries by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after buying an additional 16,890 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Nabors Industries in the second quarter worth approximately $1,242,000. Intech Investment Management LLC purchased a new position in shares of Nabors Industries in the second quarter worth approximately $359,000. Ensign Peak Advisors Inc boosted its holdings in shares of 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 worth $615,000 after buying an additional 700 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of 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 worth $338,000 after buying an additional 601 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Company Profile

(Get Free Report

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.

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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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