Nabors Industries (NYSE:NBR) PT Lowered to $79.00 at Susquehanna

Nabors Industries (NYSE:NBR - Free Report) had its price target reduced by Susquehanna from $88.00 to $79.00 in a research report released on Friday, Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas company's stock.

Several other research analysts also recently commented on NBR. Morgan Stanley decreased their price objective on Nabors Industries from $160.00 to $150.00 and set an overweight rating on the stock in a report on Monday, February 12th. Benchmark restated a hold rating on shares of Nabors Industries in a report on Thursday. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $127.80.

Nabors Industries Price Performance

NYSE NBR traded up $0.84 during trading hours on Friday, reaching $77.08. 167,715 shares of the stock traded hands, compared to its average volume of 250,594. The stock has a 50 day simple moving average of $83.14 and a two-hundred day simple moving average of $87.28. Nabors Industries has a 1 year low of $71.42 and a 1 year high of $141.47. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.23. The company has a market cap of $730.10 million, a price-to-earnings ratio of -5.58 and a beta of 2.33.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported ($5.16) EPS for the quarter, missing the consensus estimate of ($2.24) by ($2.92). The company had revenue of $743.91 million during the quarter, compared to analysts' expectations of $730.59 million. Nabors Industries had a negative return on equity of 23.12% and a negative net margin of 3.45%. On average, analysts predict that Nabors Industries will post -5.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Quadrant Capital Group LLC boosted its position in Nabors Industries by 202.4% during the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company's stock valued at $61,000 after acquiring an additional 502 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Nabors Industries during the 4th quarter valued at approximately $80,000. GAMMA Investing LLC bought a new stake in Nabors Industries during the 4th quarter valued at approximately $97,000. Sippican Capital Advisors bought a new stake in Nabors Industries during the 3rd quarter valued at approximately $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Nabors Industries by 48.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company's stock valued at $241,000 after acquiring an additional 635 shares in the last quarter. Hedge funds and other institutional investors 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.