Brokerages Set Nabors Industries Ltd. (NYSE:NBR) Price Target at $73.33

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned an average recommendation of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $73.33.

Several equities analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Nabors Industries from $115.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Barclays lowered their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Finally, Susquehanna dropped their price target on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NBR. Miller Value Partners LLC lifted its stake in Nabors Industries by 99.5% in the 4th quarter. Miller Value Partners LLC now owns 281,195 shares of the oil and gas company’s stock valued at $16,076,000 after acquiring an additional 140,230 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Nabors Industries by 300.7% in the fourth quarter. Two Sigma Investments LP now owns 90,686 shares of the oil and gas company’s stock worth $5,185,000 after purchasing an additional 135,877 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Nabors Industries during the fourth quarter worth $6,602,000. Millennium Management LLC grew its position in Nabors Industries by 669.9% in the fourth quarter. Millennium Management LLC now owns 72,792 shares of the oil and gas company’s stock valued at $4,162,000 after purchasing an additional 85,565 shares in the last quarter. Finally, Barclays PLC increased its stake in Nabors Industries by 74.6% in the 4th quarter. Barclays PLC now owns 196,108 shares of the oil and gas company’s stock valued at $11,211,000 after buying an additional 83,790 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Trading Up 4.2 %

NYSE:NBR opened at $28.71 on Thursday. The firm has a market capitalization of $275.73 million, a price-to-earnings ratio of -1.28 and a beta of 1.49. Nabors Industries has a 1-year low of $25.11 and a 1-year high of $105.96. The business’s 50-day moving average price is $41.70 and its two-hundred day moving average price is $59.04. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. On average, equities analysts expect that Nabors Industries will post -6.22 earnings per share for the current year.

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.