Nabors Industries Ltd. (NYSE:NBR) Given Average Recommendation of “Hold” by Brokerages

Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $73.00.

Several research firms recently issued reports on NBR. Susquehanna decreased their target price on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Barclays decreased 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

Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in Nabors Industries during the fourth quarter worth $36,000. US Bancorp DE grew its holdings 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 buying an additional 505 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Nabors Industries during the fourth quarter worth $70,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Nabors Industries during the fourth quarter worth $97,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Nabors Industries during the third quarter worth $220,000. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Stock Down 0.6 %

NBR stock opened at $43.53 on Friday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The firm’s fifty day simple moving average is $50.76 and its 200-day simple moving average is $62.65. Nabors Industries has a 12 month low of $34.42 and a 12 month high of $105.96. The company has a market capitalization of $418.05 million, a P/E ratio of -1.95 and a beta of 2.08.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. As a group, equities research analysts forecast that Nabors Industries will post -6.22 earnings per share for the current year.

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.