Nabors Industries (NYSE:NBR) Sets New 52-Week Low at $71.00

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $71.00 and last traded at $72.00, with a volume of 13084 shares changing hands. The stock had previously closed at $72.03.

Analyst Upgrades and Downgrades

NBR has been the subject of a number of recent analyst reports. Susquehanna cut their target price on Nabors Industries from $88.00 to $79.00 and set a "neutral" rating for the company in a research report on Friday, April 26th. Benchmark reiterated a "hold" rating on shares of Nabors Industries in a research report on Thursday, April 25th. Finally, Morgan Stanley cut their target price on Nabors Industries from $160.00 to $150.00 and set an "overweight" rating for the company in a research report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Nabors Industries has a consensus rating of "Hold" and an average price target of $127.80.

Nabors Industries Trading Down 1.4 %

The company has a current ratio of 1.78, a quick ratio of 1.23 and a debt-to-equity ratio of 4.81. The firm has a market capitalization of $759.59 million, a P/E ratio of -5.16 and a beta of 2.33. The firm has a 50-day moving average of $82.78 and a two-hundred day moving average of $86.29.

Nabors Industries (NYSE:NBR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%. The business had revenue of $743.91 million for the quarter, compared to the consensus estimate of $730.59 million. On average, analysts anticipate that Nabors Industries Ltd. will post -5.12 EPS for the current year.

Institutional Trading of Nabors Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in shares of Nabors Industries by 111.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company's stock worth $32,415,000 after buying an additional 209,450 shares during the last quarter. Gendell Jeffrey L raised its position in Nabors Industries by 3.2% in the fourth quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company's stock valued at $32,350,000 after purchasing an additional 12,119 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Nabors Industries by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company's stock valued at $24,102,000 after purchasing an additional 13,324 shares during the last quarter. Van ECK Associates Corp raised its position in Nabors Industries by 6.7% in the fourth quarter. Van ECK Associates Corp now owns 214,415 shares of the oil and gas company's stock valued at $17,503,000 after purchasing an additional 13,552 shares during the last quarter. Finally, Apollo Management Holdings L.P. bought a new position in Nabors Industries in the fourth quarter valued at about $16,620,000. 81.92% of the stock is currently owned by 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.