Nabors Industries (NYSE:NBR) Shares Gap Down to $134.50

Nabors Industries Ltd. (NYSE:NBRGet Rating)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $134.50, but opened at $130.06. Nabors Industries shares last traded at $130.11, with a volume of 432 shares traded.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NBR shares. Susquehanna decreased their target price on Nabors Industries from $170.00 to $21.00 in a research report on Wednesday, June 8th. Morgan Stanley decreased their target price on Nabors Industries from $150.00 to $125.00 and set an “underweight” rating for the company in a research report on Wednesday, July 13th. Finally, Susquehanna Bancshares decreased their target price on Nabors Industries from $170.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, June 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and a consensus price target of $92.40.

Nabors Industries Price Performance

The company has a current ratio of 1.76, a quick ratio of 1.53 and a debt-to-equity ratio of 4.33. The firm has a market cap of $1.31 billion, a P/E ratio of -2.00 and a beta of 2.68. The company has a fifty day moving average price of $126.41 and a two-hundred day moving average price of $143.60.

Institutional Investors Weigh In On Nabors Industries

Institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC raised its stake in shares of Nabors Industries by 73.3% during the 1st quarter. Lindbrook Capital LLC now owns 182 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 77 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of Nabors Industries during the 1st quarter worth approximately $68,000. Captrust Financial Advisors raised its stake in shares of Nabors Industries by 31.8% during the 1st quarter. Captrust Financial Advisors now owns 1,028 shares of the oil and gas company’s stock worth $157,000 after purchasing an additional 248 shares in the last quarter. Amundi bought a new stake in shares of Nabors Industries during the 2nd quarter worth approximately $165,000. Finally, US Asset Management LLC bought a new stake in shares of Nabors Industries during the 1st quarter worth approximately $174,000. Institutional investors own 65.99% of the company’s stock.

About Nabors Industries

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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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