Nabors Industries Ltd. (NYSE:NBR) Receives $61.17 Consensus PT from Analysts

Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $61.17.

A number of analysts recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Susquehanna decreased their price objective on shares of Nabors Industries from $32.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Barclays decreased their price objective on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Finally, Royal Bank of Canada decreased their price objective on shares of Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating on the stock in a report on Thursday, May 1st.

Nabors Industries Stock Performance

Shares of NYSE NBR opened at $29.14 on Monday. The company’s fifty day moving average price is $34.37 and its 200 day moving average price is $52.65. Nabors Industries has a 1 year low of $25.11 and a 1 year high of $105.96. The company has a market capitalization of $279.86 million, a PE ratio of -1.30 and a beta of 1.96. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75.

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 (EPS) 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 analysts’ expectations of $706.49 million. During the same period last year, the company posted ($4.54) earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts predict that Nabors Industries will post -6.22 earnings per share for the current year.

Hedge Funds Weigh In On Nabors Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in shares of Nabors Industries by 33.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 150,289 shares of the oil and gas company’s stock valued at $6,269,000 after buying an additional 37,648 shares during the last quarter. Barings LLC acquired a new stake in shares of Nabors Industries in the first quarter valued at about $8,864,000. Federated Hermes Inc. raised its position in shares of Nabors Industries by 23.1% in the first quarter. Federated Hermes Inc. now owns 36,786 shares of the oil and gas company’s stock valued at $1,534,000 after buying an additional 6,912 shares during the last quarter. Readystate Asset Management LP raised its position in shares of Nabors Industries by 78.2% in the first quarter. Readystate Asset Management LP now owns 40,505 shares of the oil and gas company’s stock valued at $1,689,000 after buying an additional 17,780 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Nabors Industries in the first quarter valued at about $438,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

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.