JPMorgan Chase & Co. Issues Pessimistic Forecast for Nabors Industries (NYSE:NBR) Stock Price

Nabors Industries (NYSE:NBR - Get Free Report) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $38.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 3.36% from the company's current price.

NBR has been the subject of several other reports. Citigroup reduced their price objective on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Barclays reissued an "underweight" rating and set a $28.00 price objective (down from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Royal Bank of Canada decreased their target price on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Morgan Stanley decreased their target price on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Susquehanna decreased their target price on Nabors Industries from $32.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Nabors Industries has a consensus rating of "Hold" and a consensus target price of $42.86.

Nabors Industries Price Performance

Shares of NBR traded down $0.54 during trading hours on Wednesday, hitting $25.87. 353,622 shares of the company were exchanged, compared to its average volume of 370,774. The company has a market capitalization of $406.16 million, a PE ratio of -1.16 and a beta of 1.96. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The firm has a fifty day simple moving average of $30.24 and a 200-day simple moving average of $47.65. Nabors Industries has a one year low of $23.27 and a one year high of $105.96.

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

Institutional Trading of Nabors Industries

Several hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nabors Industries by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company's stock worth $299,000 after acquiring an additional 228 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Nabors Industries by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company's stock worth $502,000 after acquiring an additional 459 shares in the last quarter. State of Wyoming raised its holdings in shares of 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 acquiring an additional 500 shares in the last quarter. US Bancorp DE raised its holdings in shares of Nabors Industries by 234.9% during the fourth 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 in the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Nabors Industries by 8.8% during the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company's stock worth $397,000 after acquiring an additional 563 shares in the last quarter. Institutional investors and hedge funds 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.