Nabors Industries (NYSE:NBR) Shares Down 7.7% – What’s Next?

Shares of Nabors Industries Ltd. (NYSE:NBR) traded down 7.7% on Tuesday . The company traded as low as $50.02 and last traded at $49.4150. 107,229 shares were traded during trading, a decline of 76% from the average session volume of 452,153 shares. The stock had previously closed at $53.54.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NBR. Morgan Stanley set a $65.00 target price on Nabors Industries in a research note on Monday. Royal Bank Of Canada set a $66.00 price objective on Nabors Industries and gave the company a “sector perform” rating in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Nabors Industries in a research report on Monday, December 8th. Wall Street Zen upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Citigroup reissued a “neutral” rating and set a $58.00 price objective (up previously from $38.00) on shares of Nabors Industries in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Nabors Industries has a consensus rating of “Reduce” and a consensus price target of $49.57.

Nabors Industries Trading Down 7.7%

The company has a market capitalization of $719.95 million, a P/E ratio of 5.10 and a beta of 0.97. The stock has a 50 day moving average of $48.43 and a 200-day moving average of $39.57. The company has a current ratio of 2.09, a quick ratio of 1.93 and a debt-to-equity ratio of 2.50.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, October 28th. The oil and gas company reported ($3.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.37) by ($1.30). Nabors Industries had a net margin of 7.08% and a negative return on equity of 30.85%. The business had revenue of $825.51 million for the quarter, compared to the consensus estimate of $824.61 million. During the same period last year, the business posted ($6.86) EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, research analysts predict that Nabors Industries Ltd. will post -6.22 EPS for the current year.

Hedge Funds Weigh In On Nabors Industries

Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its position in Nabors Industries by 23.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 289 shares in the last quarter. Nebula Research & Development LLC boosted its stake in shares of Nabors Industries by 2.5% during the second quarter. Nebula Research & Development LLC now owns 17,697 shares of the oil and gas company’s stock valued at $496,000 after purchasing an additional 428 shares in the last quarter. State of Wyoming lifted its holdings in Nabors Industries by 20.5% during the first quarter. State of Wyoming now owns 2,941 shares of the oil and gas company’s stock worth $123,000 after buying an additional 500 shares during the period. Ameritas Investment Partners Inc. increased its holdings in shares of Nabors Industries by 58.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 533 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its position in Nabors Industries by 11.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 570 shares in the last quarter. 81.92% of the stock is currently owned by 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.