Nabors Industries (NYSE:NBR) Price Target Cut to $79.00 by Analysts at Susquehanna

Nabors Industries (NYSE:NBR) had its price objective cut by research analysts at Susquehanna from $88.00 to $79.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price objective points to a potential upside of 3.65% from the stock’s current price.

NBR has been the topic of several other reports. Morgan Stanley reduced their price target on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Benchmark restated a “hold” rating on shares of Nabors Industries in a report on Thursday. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $127.80.

Nabors Industries Trading Down 0.0 %

Shares of NYSE:NBR traded down $0.02 during trading on Friday, hitting $76.22. The company had a trading volume of 25,832 shares, compared to its average volume of 248,650. The stock has a market cap of $721.80 million, a price-to-earnings ratio of -5.59 and a beta of 2.33. Nabors Industries has a one year low of $71.42 and a one year high of $141.47. The company has a fifty day simple moving average of $83.30 and a two-hundred day simple moving average of $87.53. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.23.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.24) by ($2.92). The company had revenue of $743.91 million during the quarter, compared to the consensus estimate 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, equities analysts forecast that Nabors Industries will post -5.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its position in shares of Nabors Industries by 5.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,416 shares of the oil and gas company’s stock worth $790,000 after purchasing an additional 340 shares in the last quarter. Sippican Capital Advisors acquired a new stake in shares of Nabors Industries in the 3rd quarter worth $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Nabors Industries by 48.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 635 shares during the period. Panagora Asset Management Inc. acquired a new stake in Nabors Industries during the 3rd quarter worth about $2,673,000. Finally, Nisa Investment Advisors LLC lifted its position in Nabors Industries by 0.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock worth $2,070,000 after acquiring an additional 148 shares during the period. 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.