Nabors Industries Ltd. (NYSE:NBR) Receives Average Rating of "Hold" from Analysts

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has been given a consensus rating of "Hold" by the six analysts that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $61.17.

A number of brokerages have recently commented on NBR. Susquehanna cut their price objective on shares of 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 cut their price target on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. Barclays reduced their price objective on Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Finally, Morgan Stanley lowered their price objective on Nabors Industries from $115.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th.

Nabors Industries Stock Performance

NBR traded up $2.27 during midday trading on Monday, reaching $29.21. The company's stock had a trading volume of 216,669 shares, compared to its average volume of 410,732. 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 fifty day simple moving average of $34.55 and a 200 day simple moving average of $53.21. The stock has a market cap of $280.53 million, a P/E ratio of -1.31 and a beta of 1.96. Nabors Industries has a twelve month low of $25.11 and a twelve month high of $105.96.

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 analysts' consensus estimates 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 company's revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted ($4.54) EPS. Research analysts expect that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Trading of Nabors Industries

Several institutional investors have recently bought and sold shares of NBR. Vanguard Group Inc. boosted its stake in shares of Nabors Industries by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 696,155 shares of the oil and gas company's stock valued at $39,799,000 after purchasing an additional 18,017 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Nabors Industries by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company's stock valued at $16,556,000 after buying an additional 27,849 shares in the last quarter. American Century Companies Inc. grew its stake in Nabors Industries by 12.0% during the fourth 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 increased its holdings in shares of 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 worth $16,076,000 after buying an additional 140,230 shares in the last quarter. Finally, Barings LLC bought a new position in shares of Nabors Industries in the first quarter valued at approximately $8,864,000. 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.