Nabors Industries Ltd. (NYSE:NBR) Receives $73.00 Average PT from Brokerages

Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation. The average 1-year target price among analysts that have covered the stock in the last year is $73.00.

A number of brokerages have recently issued reports on NBR. Susquehanna lowered their target price on shares of Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Barclays decreased their price target on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th.

Hedge Funds Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in Nabors Industries during the 4th quarter worth $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Nabors Industries by 16.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,723 shares of the oil and gas company’s stock worth $1,413,000 after purchasing an additional 3,456 shares in the last quarter. Two Sigma Advisers LP raised its holdings in Nabors Industries by 169.1% during the fourth quarter. Two Sigma Advisers LP now owns 29,600 shares of the oil and gas company’s stock worth $1,692,000 after purchasing an additional 18,600 shares in the last quarter. Two Sigma Investments LP lifted its position in 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 valued at $5,185,000 after purchasing an additional 135,877 shares during the period. Finally, Thomist Capital Management LP purchased a new stake in Nabors Industries in the 4th quarter valued at approximately $1,085,000. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Nabors Industries Stock Performance

NYSE NBR opened at $43.11 on Friday. The company has a fifty day moving average of $51.88 and a two-hundred day moving average of $63.20. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. Nabors Industries has a 1 year low of $34.42 and a 1 year high of $105.96. The company has a market capitalization of $413.98 million, a PE ratio of -1.93 and a beta of 2.08.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. As a group, 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.