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

Nabors Industries Ltd. (NYSE:NBR) has received a consensus rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $97.00.

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

Nabors Industries Stock Performance

Shares of Nabors Industries stock opened at $69.89 on Friday. The company has a market cap of $667.31 million, a P/E ratio of -3.80 and a beta of 2.05. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43. The business has a 50-day moving average price of $74.51 and a two-hundred day moving average price of $74.88. Nabors Industries has a 1-year low of $59.67 and a 1-year high of $105.96.

Institutional Investors Weigh In On Nabors Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC purchased a new stake in shares of Nabors Industries in the third quarter worth approximately $45,000. Signaturefd LLC raised its stake in shares of Nabors Industries by 52.9% in 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 last quarter. SG Americas Securities LLC purchased a new stake in shares of Nabors Industries in the second quarter worth approximately $159,000. Wellington Management Group LLP purchased a new stake in shares of Nabors Industries in the third quarter worth approximately $220,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Nabors Industries by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

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.