Nabors Industries (NYSE:NBR – Free Report) had its target price trimmed by Susquehanna from $79.00 to $77.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.
A number of other brokerages also recently weighed in on NBR. Citigroup downgraded Nabors Industries from a “buy” rating to a “neutral” rating and cut their target price for the stock from $110.00 to $75.00 in a research note on Friday, September 13th. Barclays dropped their price target on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI reduced their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 target price on shares of Nabors Industries in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $96.17.
Read Our Latest Analysis on Nabors Industries
Nabors Industries Stock Up 3.7 %
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in NBR. nVerses Capital LLC purchased a new stake in Nabors Industries in the 3rd quarter worth about $45,000. Russell Investments Group Ltd. increased its stake in shares of Nabors Industries by 2,022.2% in the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 728 shares in the last quarter. Signaturefd LLC increased its stake in shares of Nabors Industries by 52.9% in the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 472 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Nabors Industries in the second quarter valued at approximately $159,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Nabors Industries by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock valued at $254,000 after buying an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.
Nabors Industries Company Profile
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.
Read More
- Five stocks we like better than Nabors Industries
- The Top 3 Healthcare Dividend Stocks to Buy and Hold
- Real Estate Sector Outperforms: 3 Stocks to Gain Exposure
- Most active stocks: Dollar volume vs share volume
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- What is a Secondary Public Offering? What Investors Need to Know
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with MarketBeat.com's FREE daily email newsletter.