Nabors Industries Ltd. (NYSE:NBR) Receives Average Rating of “Hold” from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned a consensus rating of “Hold” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $104.50.

Several equities research analysts have commented on the stock. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $75.00 in a research report on Friday, September 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $114.00 price target on shares of Nabors Industries in a research report on Thursday, July 25th.

Nabors Industries Stock Down 1.8 %

NYSE:NBR opened at $67.32 on Friday. The stock has a 50-day simple moving average of $79.42 and a 200 day simple moving average of $77.48. Nabors Industries has a 52-week low of $59.90 and a 52-week high of $129.85. The company has a market cap of $720.46 million, a PE ratio of -4.87 and a beta of 2.12. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. The business had revenue of $742.98 million during the quarter, compared to analyst estimates of $737.91 million. During the same quarter last year, the business earned ($2.26) earnings per share. Nabors Industries’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, sell-side analysts expect that Nabors Industries will post -11.98 EPS for the current fiscal year.

Institutional Trading of Nabors Industries

A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in shares of Nabors Industries by 111.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock valued at $32,415,000 after purchasing an additional 209,450 shares during the period. Apollo Management Holdings L.P. acquired a new stake in Nabors Industries during the fourth quarter worth approximately $16,620,000. Gendell Jeffrey L boosted its holdings in shares of Nabors Industries by 10.1% during the first quarter. Gendell Jeffrey L now owns 436,442 shares of the oil and gas company’s stock worth $37,591,000 after acquiring an additional 40,141 shares during the period. Vanguard Group Inc. grew its position in shares of Nabors Industries by 5.1% in the first quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock valued at $70,550,000 after purchasing an additional 40,078 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Nabors Industries by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock worth $8,189,000 after purchasing an additional 34,473 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

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.