Susquehanna Lowers Nabors Industries (NYSE:NBR) Price Target to $45.00

Nabors Industries (NYSE:NBR) had its price target cut by equities research analysts at Susquehanna from $53.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price objective points to a potential upside of 3.56% from the stock’s previous close.

Separately, 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 research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.00.

Nabors Industries Stock Performance

Shares of NBR stock opened at $43.45 on Thursday. The stock has a fifty day moving average of $52.65 and a 200 day moving average of $63.90. Nabors Industries has a 52 week low of $34.42 and a 52 week high of $105.96. The firm has a market capitalization of $417.30 million, a price-to-earnings ratio of -1.94 and a beta of 2.08. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, research analysts expect that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NBR. Entropy Technologies LP purchased a new stake in shares of Nabors Industries during the 3rd quarter worth approximately $600,000. Intech Investment Management LLC increased its position in shares of Nabors Industries by 6.4% during the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 322 shares during the last quarter. FMR LLC increased its position in shares of Nabors Industries by 10.6% during the 3rd quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock valued at $3,339,000 after purchasing an additional 4,949 shares during the last quarter. PDT Partners LLC increased its position in shares of Nabors Industries by 49.7% during the 3rd quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company’s stock valued at $3,008,000 after purchasing an additional 15,494 shares during the last quarter. Finally, Atom Investors LP bought a new position in shares of Nabors Industries during the 3rd quarter valued at approximately $332,000. 81.92% of the stock is owned by hedge funds and other institutional investors.

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.