Nabors Industries (NYSE:NBR) Rating Reiterated by Benchmark

Nabors Industries (NYSE:NBR)‘s stock had its “hold” rating restated by research analysts at Benchmark in a research note issued to investors on Thursday, Benzinga reports.

Several other research analysts have also weighed in on the stock. Morgan Stanley lowered their target price on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Monday, February 12th. Susquehanna restated a “neutral” rating and set a $88.00 target price on shares of Nabors Industries in a research report on Monday, April 8th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $127.80.

Nabors Industries Trading Up 1.1 %

NYSE NBR opened at $77.08 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.36 and a debt-to-equity ratio of 4.63. The firm has a 50-day moving average price of $83.14 and a 200 day moving average price of $87.28. Nabors Industries has a 52-week low of $71.42 and a 52-week high of $141.47. The stock has a market capitalization of $730.10 million, a P/E ratio of -5.58 and a beta of 2.33.

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

Institutional Trading of Nabors Industries

Several large investors have recently modified their holdings of NBR. Goldman Sachs Group Inc. grew its position in shares of Nabors Industries by 111.6% in 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 purchasing an additional 209,450 shares during the last quarter. Apollo Management Holdings L.P. purchased a new position in shares of Nabors Industries during the fourth quarter valued at approximately $16,620,000. Gendell Jeffrey L lifted its stake in shares of Nabors Industries by 75.1% during the third quarter. Gendell Jeffrey L now owns 384,182 shares of the oil and gas company’s stock valued at $47,308,000 after buying an additional 164,816 shares during the period. Pantechnicon Advisors LLP purchased a new position in shares of Nabors Industries during the third quarter valued at approximately $15,392,000. Finally, Contrarius Investment Management Ltd lifted its stake in shares of Nabors Industries by 23.5% during the fourth quarter. Contrarius Investment Management Ltd now owns 140,626 shares of the oil and gas company’s stock valued at $11,479,000 after buying an additional 26,730 shares during the period. 81.92% of the stock is currently owned by institutional investors and hedge funds.

Nabors Industries Company Profile

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.