Nabors Industries Ltd. (NYSE:NBR) Receives Average Rating of “Hold” from Analysts

Nabors Industries Ltd. (NYSE:NBR) has received an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $97.00.

Several equities research analysts recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price on shares of Nabors Industries in a research report on Wednesday, October 16th. Barclays reduced their price objective on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Evercore ISI dropped their target price on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research report on Thursday, October 24th. Susquehanna reduced their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, October 24th. Finally, Citigroup upped their price objective on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Barclays PLC lifted its position in Nabors Industries by 60.8% in the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after acquiring an additional 42,483 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Nabors Industries in the second quarter worth approximately $1,242,000. Centiva Capital LP purchased a new stake in shares of Nabors Industries in the third quarter worth approximately $531,000. Dimensional Fund Advisors LP lifted its holdings in shares of Nabors Industries by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock valued at $20,634,000 after purchasing an additional 16,890 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Nabors Industries by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock valued at $8,189,000 after buying an additional 34,473 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Stock Performance

Shares of NBR opened at $61.72 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43. The firm’s fifty day simple moving average is $68.43 and its two-hundred day simple moving average is $73.30. Nabors Industries has a 12 month low of $50.15 and a 12 month high of $105.96. The stock has a market capitalization of $660.96 million, a P/E ratio of -3.36 and a beta of 2.05.

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.