Nabors Industries (NYSE:NBR) Earns Hold Rating from Benchmark

Benchmark reiterated their hold rating on shares of Nabors Industries (NYSE:NBR - Free Report) in a report released on Thursday morning, Benzinga reports.

A number of other research analysts have also commented on NBR. Susquehanna reaffirmed a neutral rating and issued a $88.00 price objective on shares of Nabors Industries in a report on Monday, April 8th. Morgan Stanley dropped their price objective on shares of Nabors Industries from $160.00 to $150.00 and set an overweight rating for the company in a research note 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 stock. According to data from MarketBeat.com, Nabors Industries currently has an average rating of Hold and a consensus target price of $129.60.

Nabors Industries Stock Performance

Shares of NYSE NBR traded down $3.89 during mid-day trading on Thursday, reaching $76.24. 555,032 shares of the company were exchanged, compared to its average volume of 251,627. The stock has a market capitalization of $721.99 million, a P/E ratio of -14.78 and a beta of 2.33. The company has a quick ratio of 1.23, a current ratio of 1.36 and a debt-to-equity ratio of 4.63. The company's 50-day simple moving average is $83.30 and its 200-day simple moving average is $87.53. Nabors Industries has a twelve month low of $71.42 and a twelve month high of $141.47.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative return on equity of 17.50% and a negative net margin of 0.66%. The company had revenue of $743.91 million for the quarter, compared to analyst estimates of $730.59 million. As a group, research analysts predict that Nabors Industries will post -5.56 earnings per share for the current year.

Hedge Funds Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of 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 worth $61,000 after buying an additional 502 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in Nabors Industries in the fourth quarter valued at about $80,000. GAMMA Investing LLC acquired a new position in Nabors Industries during the fourth quarter worth about $97,000. Sippican Capital Advisors bought a new position in shares of Nabors Industries in the third quarter worth about $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Nabors Industries by 48.0% in 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 purchasing an additional 635 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.