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

Nabors Industries Ltd. (NYSE:NBR) has earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $73.33.

NBR has been the topic of a number of analyst reports. Morgan Stanley lowered their target price on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Susquehanna decreased their price objective on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Finally, Barclays cut their target price on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th.

Hedge Funds Weigh In On Nabors Industries

Several large investors have recently added to or reduced their stakes in NBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 valued at $299,000 after acquiring an additional 228 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Nabors Industries by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company’s stock worth $502,000 after purchasing an additional 459 shares during the last quarter. US Bancorp DE raised its stake in Nabors Industries by 234.9% during the fourth 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. Inspire Investing LLC raised its stake in Nabors Industries by 8.8% during the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 563 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Nabors Industries in the 4th quarter valued at $36,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Trading Up 19.0 %

NYSE:NBR opened at $32.68 on Thursday. Nabors Industries has a 52-week low of $25.11 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 $42.86 and a 200-day simple moving average of $59.60. The company has a market capitalization of $313.86 million, a PE ratio of -1.46 and a beta of 1.49.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts expect that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

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.