Susquehanna Reaffirms "Neutral" Rating for Nabors Industries (NYSE:NBR)

Susquehanna reaffirmed their neutral rating on shares of Nabors Industries (NYSE:NBR - Free Report) in a research report report published on Monday morning, Benzinga reports. The brokerage currently has a $88.00 price objective on the oil and gas company's stock.

Several other research firms also recently weighed in on NBR. Morgan Stanley dropped their price objective on Nabors Industries from $160.00 to $150.00 and set an overweight rating for the company in a research note on Monday, February 12th. Atb Cap Markets downgraded Nabors Industries from an outperform rating to a sector perform rating in a research report on Friday, December 22nd. Finally, Benchmark downgraded Nabors Industries from a buy rating to a hold rating in a research report on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Nabors Industries has a consensus rating of Hold and an average target price of $129.60.

Nabors Industries Price Performance

NYSE NBR traded down $1.33 during mid-day trading on Monday, hitting $88.19. The stock had a trading volume of 128,863 shares, compared to its average volume of 244,986. Nabors Industries has a 52-week low of $71.42 and a 52-week high of $141.47. The company has a market cap of $835.16 million, a price-to-earnings ratio of -17.09 and a beta of 2.33. The company has a 50 day simple moving average of $83.70 and a 200 day simple moving average of $90.71. The company has a quick ratio of 1.23, a current ratio of 1.36 and a debt-to-equity ratio of 4.63.

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

Institutional Investors Weigh In On Nabors Industries

Several hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in Nabors Industries in the first quarter valued at $25,000. US Bancorp DE increased its position in shares of Nabors Industries by 72.1% during the second quarter. US Bancorp DE now owns 389 shares of the oil and gas company's stock worth $36,000 after acquiring an additional 163 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Nabors Industries by 89.6% during the third quarter. Tower Research Capital LLC TRC now owns 565 shares of the oil and gas company's stock worth $57,000 after acquiring an additional 267 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Nabors Industries by 202.4% during the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company's stock worth $61,000 after acquiring an additional 502 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Nabors Industries in the fourth quarter valued at about $80,000. Institutional investors and hedge funds 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.