Nabors Industries (NYSE:NBR) PT Lowered to $85.00 at Evercore ISI

Nabors Industries (NYSE:NBR) had its target price reduced by investment analysts at Evercore ISI from $94.00 to $85.00 in a report released on Thursday, Benzinga reports. The firm currently has an “in-line” rating on the oil and gas company’s stock. Evercore ISI’s price objective indicates a potential upside of 21.43% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price target on shares of Nabors Industries in a research report on Wednesday, October 16th. Barclays reduced their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Finally, Citigroup downgraded shares of Nabors Industries from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $75.00 in a research note on Friday, September 13th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.50.

Nabors Industries Trading Down 0.2 %

Shares of Nabors Industries stock traded down $0.17 during trading hours on Thursday, hitting $70.00. The company’s stock had a trading volume of 92,859 shares, compared to its average volume of 279,158. The stock has a market cap of $749.14 million, a price-to-earnings ratio of -5.04 and a beta of 2.11. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82. Nabors Industries has a twelve month low of $59.67 and a twelve month high of $115.23. The firm has a fifty day moving average of $72.97 and a 200-day moving average of $75.20.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($2.52). The company had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period last year, the business earned ($2.26) EPS. Research analysts forecast that Nabors Industries will post -12.24 EPS for the current year.

Institutional Trading of Nabors Industries

A number of institutional investors have recently modified their holdings of the business. nVerses Capital LLC acquired a new position in Nabors Industries during the third quarter worth $45,000. Russell Investments Group Ltd. grew its holdings in Nabors Industries by 2,022.2% during the 1st quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after buying an additional 728 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Nabors Industries by 52.9% in the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 472 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Nabors Industries in the second quarter valued at $159,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Nabors Industries by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock valued at $254,000 after acquiring an additional 181 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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.