JPMorgan Chase & Co. Has Lowered Expectations for Nabors Industries (NYSE:NBR) Stock Price

Nabors Industries (NYSE:NBR - Get Free Report) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $38.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the oil and gas company's stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 3.29% from the company's current price.

Several other research analysts have also recently weighed in on NBR. Barclays reaffirmed an "underweight" rating and set a $28.00 price objective (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Morgan Stanley cut their price target on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Susquehanna reduced their price target 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. Royal Bank of Canada lowered their price target on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup dropped their price objective on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $42.86.

Nabors Industries Stock Down 2.9%

Shares of NYSE:NBR traded down $0.77 during trading on Wednesday, hitting $25.85. 117,327 shares of the company's stock traded hands, compared to its average volume of 367,218. The company has a 50-day moving average price of $31.29 and a 200-day moving average price of $48.78. Nabors Industries has a 52 week low of $23.27 and a 52 week high of $105.96. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. The company has a market cap of $405.86 million, a price-to-earnings ratio of -1.16 and a beta of 1.96.

Nabors Industries (NYSE:NBR - Get Free Report) 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 net margin of 5.93% and a negative return on equity of 32.96%. The company had revenue of $742.78 million during the quarter, compared to the consensus estimate of $706.49 million. During the same period in the previous year, the firm posted ($4.54) EPS. The business's quarterly revenue was up .3% compared to the same quarter last year. As a group, research analysts forecast that Nabors Industries will post -6.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Brigade Capital Management LP acquired a new stake in shares of Nabors Industries during the 1st quarter worth about $37,653,000. Vanguard Group Inc. lifted its position in Nabors Industries by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 696,155 shares of the oil and gas company's stock worth $39,799,000 after acquiring an additional 18,017 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Nabors Industries by 445.5% during the first quarter. Adage Capital Partners GP L.L.C. now owns 600,000 shares of the oil and gas company's stock worth $25,026,000 after acquiring an additional 490,000 shares during the last quarter. Apollo Management Holdings L.P. boosted its holdings in shares of Nabors Industries by 26.2% during the first quarter. Apollo Management Holdings L.P. now owns 421,836 shares of the oil and gas company's stock worth $17,595,000 after acquiring an additional 87,552 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Nabors Industries by 4.7% during the first quarter. American Century Companies Inc. now owns 299,206 shares of the oil and gas company's stock worth $12,480,000 after purchasing an additional 13,391 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

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.

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