Nabors Industries (NYSE:NBR) Given Hold Rating at Benchmark

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

Other equities research analysts also recently issued reports about the stock. Morgan Stanley lowered their target price on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Monday, February 12th. Susquehanna reiterated a “neutral” rating and set a $88.00 price objective on shares of Nabors Industries in a research note on Monday, April 8th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Nabors Industries has an average rating of “Hold” and a consensus target price of $129.60.

Nabors Industries Trading Down 5.8 %

Shares of NYSE:NBR traded down $4.64 during trading on Thursday, reaching $75.49. 150,874 shares of the company were exchanged, compared to its average volume of 246,341. The firm has a market capitalization of $714.89 million, a PE ratio of -14.59 and a beta of 2.33. The business’s fifty day simple moving average is $83.43 and its 200-day simple moving average is $87.61. Nabors Industries has a 12-month low of $71.42 and a 12-month high of $141.47. 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 issued 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 business had revenue of $743.91 million for the quarter, compared to analysts’ expectations of $730.59 million. Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. On average, research analysts anticipate that Nabors Industries will post -5.56 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NBR. Nisa Investment Advisors LLC increased its holdings in Nabors Industries by 0.9% in the third quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock valued at $2,070,000 after buying an additional 148 shares in the last quarter. Swiss National Bank increased its stake in shares of Nabors Industries by 1.5% during the third quarter. Swiss National Bank now owns 19,900 shares of the oil and gas company’s stock worth $2,450,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Nabors Industries by 29.1% during the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 332 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Nabors Industries by 5.6% during the third 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. Finally, Quadrant Capital Group LLC increased its stake in shares of Nabors Industries by 202.4% during the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.