Susquehanna Cuts Nabors Industries (NYSE:NBR) Price Target to $45.00

Nabors Industries (NYSE:NBR) had its target price lowered by Susquehanna from $53.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Separately, Barclays reduced their price objective on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.00.

Nabors Industries Stock Performance

NYSE:NBR opened at $43.45 on Thursday. The firm’s fifty day simple moving average is $52.65 and its 200-day simple moving average is $63.79. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The stock has a market cap of $417.30 million, a PE ratio of -1.94 and a beta of 2.08. Nabors Industries has a fifty-two week low of $34.42 and a fifty-two week high of $105.96.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. Analysts expect that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in Nabors Industries during the fourth quarter worth $36,000. US Bancorp DE boosted its stake 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 valued at $41,000 after acquiring an additional 505 shares during the last quarter. R Squared Ltd purchased a new stake in Nabors Industries during the 4th quarter worth about $70,000. KLP Kapitalforvaltning AS acquired a new position in Nabors Industries in the 4th quarter valued at about $97,000. Finally, Wellington Management Group LLP purchased a new position in Nabors Industries in the 3rd quarter valued at about $220,000. 81.92% of the stock is currently 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.