Susquehanna Has Lowered Expectations for Nabors Industries (NYSE:NBR) Stock Price

Nabors Industries (NYSE:NBR) had its price target cut by equities researchers at Susquehanna from $45.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price would indicate a potential upside of 12.02% from the stock’s previous close.

A number of other analysts have also recently weighed in on NBR. Morgan Stanley lowered their price target on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Barclays lowered their target price on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.17.

Nabors Industries Price Performance

NYSE:NBR opened at $28.57 on Monday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. The company has a 50-day moving average of $40.58 and a 200-day moving average of $58.59. Nabors Industries has a 52 week low of $25.11 and a 52 week high of $105.96. The company has a market capitalization of $274.36 million, a price-to-earnings ratio of -1.28 and a beta of 1.49.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) 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%. As a group, equities research analysts anticipate that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Trading of Nabors Industries

Several large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio acquired a new position in Nabors Industries during the 4th quarter worth about $36,000. US Bancorp DE lifted its position in shares of 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of Nabors Industries by 520.2% during the first quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 900 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Nabors Industries in the fourth quarter valued at approximately $70,000. Finally, KLP Kapitalforvaltning AS bought a new position in Nabors Industries in the 4th quarter worth approximately $97,000. Institutional investors own 81.92% of the company’s stock.

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.