Brokerages Set Nabors Industries Ltd. (NYSE:NBR) Price Target at $73.33

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has received an average rating of "Hold" from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $71.17.

NBR has been the topic of several recent research reports. Barclays dropped their price target on shares of Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Susquehanna dropped their target price on Nabors Industries from $45.00 to $32.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Morgan Stanley decreased their price target on Nabors Industries from $115.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, March 27th.

Nabors Industries Stock Down 0.1 %

Shares of NYSE NBR traded down $0.03 during midday trading on Thursday, hitting $28.57. 310,495 shares of the stock traded hands, compared to its average volume of 340,401. Nabors Industries has a one year low of $25.11 and a one year high of $105.96. The business has a 50 day moving average price of $40.58 and a two-hundred day moving average price of $58.59. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. The company has a market cap of $274.36 million, a PE ratio of -1.28 and a beta of 1.49.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS for the quarter, missing analysts' consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. On average, equities analysts predict that Nabors Industries will post -6.22 EPS for the current year.

Hedge Funds Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings 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 period. Dimensional Fund Advisors LP raised its stake in shares of Nabors Industries by 10.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company's stock worth $16,556,000 after purchasing an additional 27,849 shares during the period. American Century Companies Inc. boosted its holdings in shares of Nabors Industries by 12.0% in the 4th quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company's stock worth $16,340,000 after buying an additional 30,537 shares during the last quarter. Miller Value Partners LLC grew its position in Nabors Industries by 99.5% during the fourth quarter. Miller Value Partners LLC now owns 281,195 shares of the oil and gas company's stock valued at $16,076,000 after buying an additional 140,230 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Nabors Industries by 1.5% during the third quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company's stock worth $13,286,000 after buying an additional 3,054 shares during the last quarter. Hedge funds and other institutional investors 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.