Nabors Industries (NYSE:NBR) Price Target Raised to $180.00

Nabors Industries (NYSE:NBRGet Rating) had its price objective increased by research analysts at Barclays from $132.00 to $180.00 in a report released on Monday, The Fly reports. Barclays‘s price objective indicates a potential upside of 16.41% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $175.00 to $115.00 in a report on Monday, March 14th. StockNews.com began coverage on shares of Nabors Industries in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Capital One Financial restated an “equal weight” rating on shares of Nabors Industries in a research report on Thursday, March 17th. Finally, Morgan Stanley raised their price objective on shares of Nabors Industries from $100.00 to $150.00 and gave the company an “underweight” rating in a research report on Monday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $136.25.

NBR opened at $154.62 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.65 and a debt-to-equity ratio of 4.54. Nabors Industries has a 52-week low of $65.58 and a 52-week high of $207.67. The stock’s 50 day simple moving average is $155.54. The stock has a market capitalization of $1.33 billion, a P/E ratio of -1.95 and a beta of 3.06.

Nabors Industries (NYSE:NBRGet Rating) last announced its earnings results on Tuesday, February 8th. The oil and gas company reported ($14.60) earnings per share for the quarter, missing the consensus estimate of ($10.98) by ($3.62). Nabors Industries had a negative net margin of 29.01% and a negative return on equity of 56.39%. The firm had revenue of $543.70 million during the quarter, compared to analysts’ expectations of $550.96 million. During the same quarter last year, the company posted ($23.82) earnings per share. As a group, equities research analysts anticipate that Nabors Industries will post -24.12 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lindbrook Capital LLC lifted its holdings in shares of Nabors Industries by 73.3% during the first quarter. Lindbrook Capital LLC now owns 182 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 77 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Nabors Industries by 2.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 3,800 shares of the oil and gas company’s stock worth $724,000 after buying an additional 100 shares during the period. New York State Common Retirement Fund grew its position in shares of Nabors Industries by 2.1% during the 4th quarter. New York State Common Retirement Fund now owns 4,987 shares of the oil and gas company’s stock worth $404,000 after buying an additional 101 shares during the period. Credit Suisse AG grew its position in shares of Nabors Industries by 0.3% in the 3rd quarter. Credit Suisse AG now owns 39,163 shares of the oil and gas company’s stock valued at $3,778,000 after purchasing an additional 135 shares during the period. Finally, New York State Teachers Retirement System grew its position in shares of Nabors Industries by 2.0% in the 4th quarter. New York State Teachers Retirement System now owns 9,985 shares of the oil and gas company’s stock valued at $810,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

About Nabors Industries (Get Rating)

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

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