Nabors Industries Ltd. (NYSE:NBR) Receives $42.86 Average PT from Brokerages

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) have been assigned an average recommendation of "Reduce" from the seven ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $42.86.

A number of analysts have issued reports on NBR shares. Barclays reissued an "underweight" rating and issued a $28.00 target price (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. JPMorgan Chase & Co. lowered their price objective on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 28th. Citigroup lowered their price target on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Royal Bank Of Canada cut their price objective on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Finally, Susquehanna dropped their target price on Nabors Industries from $32.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st.

Nabors Industries Stock Performance

Shares of NBR traded down $0.25 on Tuesday, reaching $27.92. 966,578 shares of the company's stock traded hands, compared to its average volume of 443,171. The stock's 50 day simple moving average is $29.32 and its two-hundred day simple moving average is $42.45. The stock has a market cap of $438.30 million, a PE ratio of -1.78 and a beta of 1.52. 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 1.80, a quick ratio of 1.62 and a debt-to-equity ratio of 4.13.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.64) by ($4.86). The business had revenue of $742.78 million for the quarter, compared to analysts' expectations of $706.49 million. Nabors Industries had a negative net margin of 3.66% and a negative return on equity of 38.71%. The company's revenue for the quarter 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. On average, analysts forecast that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Nabors Industries in the fourth quarter worth approximately $36,000. US Bancorp DE boosted its position in Nabors Industries by 234.9% during the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock valued at $41,000 after buying an additional 505 shares during the period. GAMMA Investing LLC grew its holdings in Nabors Industries by 520.2% in the 1st quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company's stock worth $45,000 after acquiring an additional 900 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Nabors Industries by 3,866.7% in the first quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company's stock valued at $55,000 after acquiring an additional 1,276 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Nabors Industries during the fourth quarter valued at about $97,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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.