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

Nabors Industries Ltd. (NYSE:NBR) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have covered the stock in the last year is $79.40.

NBR has been the topic of a number of recent analyst reports. Barclays decreased their price objective on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Citigroup increased their price target on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st.

Nabors Industries Stock Down 6.0 %

Shares of NBR opened at $43.32 on Wednesday. Nabors Industries has a 52-week low of $42.72 and a 52-week high of $105.96. 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 fifty day simple moving average of $57.41 and a two-hundred day simple moving average of $68.07. The company has a market capitalization of $415.88 million, a PE ratio of -1.94 and a beta of 2.02.

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 (EPS) 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%. As a group, equities analysts forecast that Nabors Industries will post -6.22 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Nabors Industries by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company’s stock worth $299,000 after buying an additional 228 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Nabors Industries by 6.4% in the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after acquiring an additional 322 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Nabors Industries by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company’s stock valued at $502,000 after purchasing an additional 459 shares during the period. Signaturefd LLC grew its stake in Nabors Industries by 52.9% during the 3rd 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 in the last quarter. Finally, US Bancorp DE increased its holdings in 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 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.