Nabors Industries (NYSE:NBR) Price Target Lowered to $29.00 at Susquehanna

Nabors Industries (NYSE:NBR) had its price target decreased by Susquehanna from $32.00 to $29.00 in a report released on Thursday morning,Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas company’s stock.

NBR has been the topic of several other reports. Barclays lowered their price target on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Morgan Stanley dropped their price target on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nabors Industries presently has an average rating of “Hold” and an average price target of $61.17.

Nabors Industries Price Performance

Shares of NBR stock opened at $27.43 on Thursday. Nabors Industries has a 52-week low of $25.11 and a 52-week high of $105.96. The stock has a market cap of $263.40 million, a PE ratio of -1.23 and a beta of 1.49. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. The firm’s 50 day moving average price is $35.86 and its two-hundred day moving average price is $54.85.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.64) by ($4.86). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. The firm had revenue of $742.78 million for the quarter, compared to the consensus estimate of $706.49 million. During the same period in the prior year, the business earned ($4.54) earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, analysts forecast that Nabors Industries will post -6.22 EPS for the current year.

Hedge Funds Weigh In On Nabors Industries

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in Nabors Industries during the 4th quarter valued at $36,000. US Bancorp DE increased its holdings in Nabors Industries by 234.9% in the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 505 shares during the last quarter. GAMMA Investing LLC grew its holdings in Nabors Industries by 520.2% during the 1st quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 900 shares in the last quarter. R Squared Ltd purchased a new position in Nabors Industries during the 4th quarter valued at about $70,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Nabors Industries during the 4th quarter valued at $97,000. 81.92% of the stock is currently owned by institutional investors.

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.