Nabors Industries (NYSE:NBR) Given “Hold” Rating at Benchmark

Benchmark reissued their hold rating on shares of Nabors Industries (NYSE:NBR) in a research note published on Thursday morning, Benzinga reports.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Nabors Industries from $160.00 to $150.00 and set an overweight rating on the stock in a research note on Monday, February 12th. Susquehanna reaffirmed a neutral rating and issued a $88.00 price target on shares of Nabors Industries in a research note on Monday, April 8th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $129.60.

Nabors Industries Trading Down 1.6 %

NBR opened at $75.02 on Thursday. The stock has a fifty day moving average of $83.30 and a 200-day moving average of $87.53. Nabors Industries has a 12-month low of $71.42 and a 12-month high of $141.47. The company has a debt-to-equity ratio of 4.63, a quick ratio of 1.23 and a current ratio of 1.36.

Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92). The business had revenue of $743.91 million during the quarter, compared to analysts’ expectations of $730.59 million. Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.12%. As a group, research analysts predict that Nabors Industries will post -5.56 EPS for the current year.

Hedge Funds Weigh In On Nabors Industries

Several hedge funds have recently bought and sold shares of NBR. Goldman Sachs Group Inc. boosted its holdings in Nabors Industries by 111.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock valued at $32,415,000 after acquiring an additional 209,450 shares during the period. Gendell Jeffrey L boosted its holdings in Nabors Industries by 3.2% during the fourth quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company’s stock valued at $32,350,000 after acquiring an additional 12,119 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Nabors Industries by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock valued at $24,102,000 after buying an additional 13,324 shares during the period. Van ECK Associates Corp lifted its stake in shares of Nabors Industries by 6.7% in the fourth quarter. Van ECK Associates Corp now owns 214,415 shares of the oil and gas company’s stock valued at $17,503,000 after buying an additional 13,552 shares during the period. Finally, Apollo Management Holdings L.P. bought a new stake in shares of Nabors Industries in the fourth quarter valued at about $16,620,000. 81.92% of the stock is owned by institutional investors and hedge funds.

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.