Nabors Industries (NYSE:NBR) Given New $32.00 Price Target at Susquehanna

Nabors Industries (NYSE:NBR - Get Free Report) had its price objective lifted by equities researchers at Susquehanna from $29.00 to $32.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas company's stock. Susquehanna's price objective indicates a potential upside of 8.47% from the stock's previous close.

Several other equities analysts have also recently issued reports 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 report on Monday, May 19th. JPMorgan Chase & Co. cut their price target on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Wednesday, May 28th. Citigroup lowered their price objective on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Royal Bank Of Canada dropped their target price 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, Morgan Stanley reduced their price target on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $43.29.

Nabors Industries Price Performance

Shares of NYSE NBR traded up $1.48 during midday trading on Tuesday, hitting $29.50. The company had a trading volume of 679,217 shares, compared to its average volume of 398,929. The firm has a market capitalization of $463.15 million, a price-to-earnings ratio of -1.89 and a beta of 1.52. Nabors Industries has a twelve month low of $23.27 and a twelve month high of $105.96. The business has a 50-day simple moving average of $29.26 and a two-hundred day simple moving average of $41.55. The company has a quick ratio of 1.62, a current ratio of 1.80 and a debt-to-equity ratio of 4.13.

Nabors Industries (NYSE:NBR - Get Free Report) last posted its quarterly 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 analyst estimates of $706.49 million. Nabors Industries had a negative net margin of 3.66% and a negative return on equity of 38.71%. Nabors Industries's revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($4.54) earnings per share. Equities research analysts anticipate that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Investors Weigh In On Nabors Industries

Several hedge funds have recently modified their holdings of NBR. Public Employees Retirement System of Ohio purchased a new position in shares of Nabors Industries during the fourth quarter valued at approximately $36,000. US Bancorp DE lifted its stake in shares of Nabors Industries by 234.9% during the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock worth $41,000 after purchasing an additional 505 shares during the period. GAMMA Investing LLC lifted its stake in shares of Nabors Industries by 520.2% during the 1st quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 900 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Nabors Industries by 3,866.7% during the first quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company's stock worth $55,000 after purchasing an additional 1,276 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Nabors Industries in the fourth quarter valued at $97,000. 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.