Nabors Industries (NYSE:NBR) Shares Down 4.2% - Time to Sell?

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) shares traded down 4.2% during trading on Monday . The company traded as low as $34.17 and last traded at $33.41. 23,616 shares changed hands during trading, a decline of 94% from the average session volume of 382,786 shares. The stock had previously closed at $34.89.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank Of Canada reduced their price target on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating for the company in a research report on Thursday, May 1st. Susquehanna reduced their price target 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. Citigroup reduced their price target on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Morgan Stanley reduced their price target on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Barclays restated an "underweight" rating and set a $28.00 price target (down from $53.00) on shares of Nabors Industries in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $42.86.

Nabors Industries Price Performance

The firm's 50-day moving average is $29.27 and its 200-day moving average is $43.82. The company has a market capitalization of $529.36 million, a PE ratio of -2.16 and a beta of 1.52. 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 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). Nabors Industries had a negative return on equity of 38.71% and a negative net margin of 3.66%. The company had revenue of $742.78 million during the quarter, compared to analysts' expectations of $706.49 million. During the same quarter last year, the firm posted ($4.54) earnings per share. The firm's revenue was up .3% on a year-over-year basis. Equities analysts predict that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new stake in Nabors Industries in the fourth quarter worth $36,000. US Bancorp DE lifted its stake in Nabors Industries by 234.9% in the fourth 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 last quarter. GAMMA Investing LLC lifted its stake in Nabors Industries by 520.2% in the first 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 last quarter. Russell Investments Group Ltd. lifted its stake in 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 worth $55,000 after purchasing an additional 1,276 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Nabors Industries in the fourth quarter worth $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.