Susquehanna Trims Nabors Industries (NYSE:NBR) Target Price to $79.00

Nabors Industries (NYSE:NBR) had its price target trimmed by Susquehanna from $88.00 to $79.00 in a report published on Friday, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other analysts also recently weighed in on NBR. Morgan Stanley cut their price target on Nabors Industries from $160.00 to $150.00 and set an overweight rating on the stock in a research note on Monday, February 12th. Benchmark reaffirmed a hold rating on shares of Nabors Industries in a research report on Thursday. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average price target of $127.80.

Nabors Industries Stock Performance

Nabors Industries stock opened at $77.20 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.78 and a debt-to-equity ratio of 4.81. The company has a market capitalization of $731.08 million, a P/E ratio of -5.59 and a beta of 2.33. The stock’s 50 day moving average is $83.14 and its 200 day moving average is $86.88. Nabors Industries has a twelve month low of $71.42 and a twelve month high of $141.47.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share for the quarter, missing the consensus estimate of ($2.24) by ($2.92). The company had revenue of $743.91 million during the quarter, compared to analysts’ expectations of $730.59 million. Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%. On average, equities research analysts predict that Nabors Industries will post -5.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC lifted its position in Nabors Industries by 202.4% in the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 502 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Nabors Industries during the 4th quarter valued at $80,000. GAMMA Investing LLC bought a new position in shares of Nabors Industries during the 4th quarter valued at $97,000. Sippican Capital Advisors bought a new position in shares of Nabors Industries during the 3rd quarter valued at $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Nabors Industries by 48.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 635 shares during the period. 81.92% of the stock is owned by institutional investors.

Nabors Industries Company Profile

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.