Morgan Stanley Issues Pessimistic Forecast for Nabors Industries (NYSE:NBR) Stock Price

Nabors Industries (NYSE:NBR) had its price target decreased by analysts at Morgan Stanley from $115.00 to $75.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 79.87% from the company’s previous close.

Several other research analysts have also recently commented on the stock. Barclays decreased 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 report on Wednesday, February 19th. Susquehanna lowered their price objective on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $73.33.

Nabors Industries Stock Down 3.1 %

NBR stock opened at $41.70 on Thursday. The firm has a market cap of $400.45 million, a PE ratio of -1.86 and a beta of 2.08. Nabors Industries has a 12 month low of $34.42 and a 12 month high of $105.96. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The firm has a 50 day simple moving average of $48.47 and a 200 day simple moving average of $61.84.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data 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%. Equities research analysts forecast that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new stake in shares of Nabors Industries during the fourth quarter worth $36,000. US Bancorp DE raised its stake in shares of Nabors Industries by 234.9% during the 4th 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 4th quarter valued at about $70,000. KLP Kapitalforvaltning AS acquired a new position in Nabors Industries in the fourth quarter worth approximately $97,000. Finally, Wellington Management Group LLP bought a new position in Nabors Industries during the third quarter valued at approximately $220,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

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.