Nabors Industries Ltd. (NYSE:NBR) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Nabors Industries has a consensus “Hold” rating from eight analysts: six recommend holding the stock and two recommend buying it. The average 12-month price target is $102.57, above the reported share price of $85.75.
• Recent analyst sentiment has weakened, with Susquehanna cutting its price target to $85, Zacks downgrading the stock to “Hold,” and Wall Street Zen lowering its rating to “Sell.” Barclays and Morgan Stanley set targets of $93 and $110, respectively.
• Nabors reported a quarterly loss of $2.04 per share on $814.79 million in revenue, while analysts expect a full-year loss of $3.69 per share. Institutional investors own 81.92% of the stock, and a company director recently sold 3,200 shares for approximately $295,360.

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has been assigned an average recommendation of "Hold" from the eight analysts that are currently covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $102.5714.

A number of equities analysts recently commented on NBR shares. Morgan Stanley set a $110.00 price target on shares of Nabors Industries in a research note on Thursday, August 20th. Wall Street Zen lowered shares of Nabors Industries from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Susquehanna decreased their price objective on shares of Nabors Industries from $105.00 to $85.00 and set a "neutral" rating for the company in a research note on Wednesday, July 8th. Zacks Research downgraded shares of Nabors Industries from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Finally, Barclays set a $93.00 target price on Nabors Industries and gave the company an "equal weight" rating in a research report on Wednesday, August 5th.

Insider Activity

In related news, Director David Tudor sold 3,200 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $92.30, for a total transaction of $295,360.00. Following the completion of the sale, the director directly owned 5,264 shares of the company's stock, valued at approximately $485,867.20. This trade represents a 37.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.32% of the company's stock.

Institutional Trading of Nabors Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of NBR. Arlington Capital Management Inc. bought a new stake in shares of Nabors Industries during the second quarter worth $3,144,000. Engineers Gate Manager LP grew its holdings in shares of Nabors Industries by 1,518.1% in the second quarter. Engineers Gate Manager LP now owns 414,599 shares of the oil and gas company's stock worth $34,830,000 after purchasing an additional 388,976 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Nabors Industries in the second quarter worth about $106,000. IFP Advisors Inc increased its stake in Nabors Industries by 106.6% in the 2nd quarter. IFP Advisors Inc now owns 436 shares of the oil and gas company's stock worth $37,000 after buying an additional 225 shares during the period. Finally, Squarepoint Ops LLC increased its stake in Nabors Industries by 273.7% in the 2nd quarter. Squarepoint Ops LLC now owns 9,342 shares of the oil and gas company's stock worth $785,000 after buying an additional 6,842 shares during the period. Hedge funds and other institutional investors own 81.92% of the company's stock.

Nabors Industries Stock Down 4.0%

Shares of NBR opened at $85.75 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 2.24. The business has a fifty day moving average of $87.16 and a 200 day moving average of $88.21. The company has a market cap of $1.37 billion, a PE ratio of 6.38 and a beta of 1.00. Nabors Industries has a 52-week low of $36.62 and a 52-week high of $112.90.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. The firm had revenue of $814.79 million for the quarter. On average, sell-side analysts expect that Nabors Industries will post -3.69 EPS for the current year.

Nabors Industries Company Profile

Nabors Industries Ltd. is a global oil and gas drilling contractor that provides land-based and offshore drilling services to exploration and production companies. The company operates a fleet of land drilling rigs, offshore platform rigs and other specialized drilling equipment, supporting customers throughout the well-construction process.

In addition to contract drilling, Nabors provides directional drilling, measurement-while-drilling, drilling optimization and other wellbore services.

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