Nabors Industries Ltd. (NYSE:NBR) Stock Now Rated “Hold” by Wall Street Brokerages

Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus rating of “Hold” from the eight analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $103.00.

A number of equities research analysts have commented on the company. Weiss Ratings lowered Nabors Industries from a “hold (c)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen raised Nabors Industries from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays dropped their target price on Nabors Industries from $93.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday. Susquehanna reissued a “neutral” rating and issued a $91.00 price target (up from $85.00) on shares of Nabors Industries in a research report on Monday, October 5th. Finally, Zacks Research lowered shares of Nabors Industries from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th.

Nabors Industries Trading Up 0.1%

NYSE NBR opened at $77.05 on Friday. Nabors Industries has a twelve month low of $44.04 and a twelve month high of $112.90. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.64 and a current ratio of 1.77. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -16.57 and a beta of 1.09. The firm’s 50 day moving average price is $83.02 and its two-hundred day moving average price is $84.66.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, October 28th. The oil and gas company reported ($1.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($1.10). The firm had revenue of $872.19 million for the quarter, compared to analyst estimates of $859.20 million. Nabors Industries had a negative net margin of 1.17% and a negative return on equity of 3.98%. Nabors Industries’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $16.85 earnings per share. Equities analysts anticipate that Nabors Industries will post -3.87 EPS for the current year.

Insiders Place Their Bets

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $92.30, for a total value of $295,360.00. Following the completion of the sale, the director owned 5,264 shares in the company, valued at $485,867.20. This represents a 37.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.32% of the company’s stock.

Hedge Funds Weigh In On Nabors Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its position in Nabors Industries by 106.6% during the second quarter. IFP Advisors Inc now owns 436 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Nabors Industries in the third quarter worth approximately $41,000. State of Wyoming bought a new position in Nabors Industries during the third quarter valued at approximately $41,000. EverSource Wealth Advisors LLC raised its position in Nabors Industries by 29.3% during the first quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 141 shares in the last quarter. Finally, Allworth Financial LP raised its position in Nabors Industries by 16.9% during the second quarter. Allworth Financial LP now owns 1,134 shares of the oil and gas company’s stock valued at $95,000 after acquiring an additional 164 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Company Profile

Nabors Industries is an international drilling contractor that provides services and technology to the oil and natural gas industry. Its operations include land-based drilling rigs and offshore platform rigs, which it supplies to exploration and production companies. The company also offers services and technologies used to plan and carry out drilling operations. These include directional drilling, measurement-while-drilling systems, wellbore placement services, and software and automation tools designed to support drilling performance.