Nabors Industries (NYSE:NBR) Shares Down 3.5%

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) shares traded down 3.5% during mid-day trading on Thursday . The company traded as low as $86.87 and last traded at $87.16. 70,213 shares traded hands during trading, a decline of 71% from the average session volume of 243,447 shares. The stock had previously closed at $90.34.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Susquehanna reaffirmed a "neutral" rating and set a $88.00 price objective on shares of Nabors Industries in a report on Tuesday, February 13th. Morgan Stanley cut their price objective on shares of Nabors Industries from $160.00 to $150.00 and set an "overweight" rating for the company in a report on Monday, February 12th. Benchmark lowered shares of Nabors Industries from a "buy" rating to a "hold" rating in a report on Tuesday, January 16th. StockNews.com lowered shares of Nabors Industries from a "buy" rating to a "hold" rating in a report on Thursday, December 7th. Finally, Atb Cap Markets lowered shares of Nabors Industries from an "outperform" rating to a "sector perform" rating in a report on Friday, December 22nd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $129.60.

Nabors Industries Stock Performance

The company has a market capitalization of $823.98 million, a P/E ratio of -16.82 and a beta of 2.33. The business has a 50-day moving average of $83.64 and a 200-day moving average of $91.90. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.23.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.54) by ($2.30). The company had revenue of $737.84 million during the quarter, compared to the consensus estimate of $749.52 million. Nabors Industries had a negative return on equity of 17.50% and a negative net margin of 0.66%. On average, sell-side analysts anticipate that Nabors Industries Ltd. will post -4.3 EPS for the current year.

Institutional Trading of Nabors Industries

A number of institutional investors have recently bought and sold shares of NBR. ProShare Advisors LLC bought a new stake in shares of Nabors Industries during the first quarter worth $243,000. Raymond James & Associates bought a new stake in shares of Nabors Industries during the first quarter worth $213,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Nabors Industries during the first quarter worth $251,000. Bank of New York Mellon Corp lifted its position in shares of Nabors Industries by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 73,869 shares of the oil and gas company's stock worth $11,281,000 after purchasing an additional 907 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Nabors Industries by 108.6% during the first quarter. PNC Financial Services Group Inc. now owns 3,779 shares of the oil and gas company's stock worth $576,000 after purchasing an additional 1,967 shares during the last quarter. 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.