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

Shares of Nabors Industries Ltd. (NYSE:NBR) have been given a consensus rating of “Hold” by the eight research firms that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $102.5714.

A number of research firms recently weighed in on NBR. Barclays set a $93.00 price objective on shares of Nabors Industries and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Citigroup raised their target price on shares of Nabors Industries from $89.00 to $110.00 and gave the company a “neutral” rating in a research report on Friday, May 1st. Royal Bank Of Canada boosted their price target on shares of Nabors Industries from $91.00 to $120.00 and gave the company a “sector perform” rating in a report on Thursday, April 30th. Susquehanna lowered their price target on shares of Nabors Industries from $105.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, July 8th. Finally, Morgan Stanley set a $110.00 price target on shares of Nabors Industries in a research report on Thursday, August 20th.

Hedge Funds Weigh In On Nabors Industries

A number of large investors have recently bought and sold shares of the business. Islay Capital Management LLC bought a new stake in Nabors Industries during the 4th quarter valued at $26,000. Quarry LP purchased a new position in shares of Nabors Industries in the 4th quarter valued at $33,000. Aster Capital Management DIFC Ltd bought a new position in shares of Nabors Industries in the 4th quarter worth $40,000. EverSource Wealth Advisors LLC raised its position in shares of Nabors Industries by 29.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 141 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of Nabors Industries by 23.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 289 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Trading Up 4.6%

NBR opened at $91.55 on Friday. The stock’s fifty day moving average is $84.59 and its two-hundred day moving average is $86.44. The company has a market capitalization of $1.46 billion, a P/E ratio of 6.81 and a beta of 0.98. Nabors Industries has a 52 week low of $34.70 and a 52 week high of $112.90. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 2.24.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. The firm had revenue of $814.79 million for the quarter. Analysts forecast that Nabors Industries will post -3.69 earnings per share for the current year.

About Nabors Industries

Nabors Industries Ltd. is a global oil and gas drilling contractor that provides land and offshore drilling rigs, drilling equipment and related services to energy companies around the world. The company’s operations span two core segments: drilling and evaluation, which includes land?based and platform drilling rigs as well as wellbore survey services, and wellbore technologies, offering pressure control equipment, downhole tools and specialized maintenance services. Nabors’ integrated model combines rig operations with engineered products and field support, positioning it as a full?service provider in the upstream sector.

The company maintains a diverse, modern fleet of automated and conventional drilling rigs and has pioneered advanced drilling technologies, including automated drilling controls and managed pressure drilling systems.