Barclays Reiterates Underweight Rating for Nabors Industries (NYSE:NBR)

Barclays reiterated their underweight rating on shares of Nabors Industries (NYSE:NBR) in a research report sent to investors on Monday morning, Marketbeat Ratings reports. The brokerage currently has a $28.00 price target on the oil and gas company’s stock, down from their prior price target of $53.00.

Several other equities analysts also recently issued reports on NBR. Susquehanna reduced their price objective on Nabors Industries from $32.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Citigroup cut their target price on Nabors Industries from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Morgan Stanley cut their target price on Nabors Industries from $75.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Royal Bank of Canada cut their target price on Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.83.

Nabors Industries Stock Performance

Shares of NYSE NBR opened at $27.38 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. The stock has a 50 day simple moving average of $33.31 and a 200-day simple moving average of $50.84. The company has a market cap of $429.87 million, a PE ratio of -1.22 and a beta of 1.96. Nabors Industries has a 12-month low of $25.11 and a 12-month high of $105.96.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.64) by ($4.86). The business had revenue of $742.78 million for the quarter, compared to analyst estimates of $706.49 million. Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($4.54) earnings per share. On average, equities research analysts forecast that Nabors Industries will post -6.22 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

Institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Nabors Industries by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company’s stock valued at $299,000 after buying an additional 228 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Nabors Industries by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company’s stock valued at $502,000 after buying an additional 459 shares in the last quarter. State of Wyoming increased its holdings in shares of Nabors Industries by 20.5% in the first quarter. State of Wyoming now owns 2,941 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 500 shares in the last quarter. US Bancorp DE increased its holdings in shares of Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 505 shares in the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Nabors Industries by 8.8% in the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock valued at $397,000 after buying an additional 563 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.