Nabors Industries (NYSE:NBR) Reaches New 12-Month Low at $71.00

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

Wall Street Analyst Weigh In

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

Get Our Latest Stock Analysis on Nabors Industries

Nabors Industries Stock Down 0.9 %

The business has a 50 day moving average of $82.58 and a 200-day moving average of $86.18. The stock has a market cap of $753.07 million, a PE ratio of -5.14 and a beta of 2.37. The company has a current ratio of 1.78, a quick ratio of 1.23 and a debt-to-equity ratio of 4.81.

Nabors Industries (NYSE:NBRGet Free Report) last announced its earnings results 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 net margin of 3.45% and a negative return on equity of 23.52%. The company had revenue of $743.91 million during the quarter, compared to analysts’ expectations of $730.59 million. Equities research analysts predict that Nabors Industries Ltd. will post -5.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in shares of Nabors Industries by 0.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock valued at $2,070,000 after purchasing an additional 148 shares during the last quarter. Swiss National Bank grew its stake in shares of Nabors Industries by 1.5% in the 3rd quarter. Swiss National Bank now owns 19,900 shares of the oil and gas company’s stock valued at $2,450,000 after purchasing an additional 300 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Nabors Industries by 29.1% in the 1st quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock valued at $127,000 after purchasing an additional 332 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Nabors Industries by 202.4% in the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 502 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Nabors Industries by 9.9% in the third quarter. Barclays PLC now owns 5,626 shares of the oil and gas company’s stock valued at $692,000 after buying an additional 509 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Company Profile

(Get Free Report)

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.

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