Morgan Stanley Issues Pessimistic Forecast for Nabors Industries (NYSE:NBR) Stock Price

Nabors Industries (NYSE:NBR) had its price objective cut by Morgan Stanley from $115.00 to $75.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other analysts also recently weighed in on NBR. 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 note on Thursday, March 13th. Barclays cut their price target on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $73.33.

Nabors Industries Stock Performance

Shares of Nabors Industries stock opened at $42.88 on Thursday. The company has a 50 day moving average price of $48.97 and a 200 day moving average price of $62.02. The firm has a market capitalization of $411.82 million, a P/E ratio of -1.92 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 has a 52 week low of $34.42 and a 52 week high of $105.96.

Nabors Industries (NYSE:NBR) last posted its quarterly 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 return on equity of 32.96% and a negative net margin of 5.93%. Sell-side analysts expect that Nabors Industries will post -6.22 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

Several hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new position in shares of Nabors Industries in the 4th quarter valued at $36,000. US Bancorp DE raised its position 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 worth $41,000 after acquiring an additional 505 shares during the period. R Squared Ltd purchased a new stake in shares of Nabors Industries during the 4th quarter worth about $70,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Nabors Industries during the 4th quarter worth about $97,000. Finally, Wellington Management Group LLP acquired a new stake in shares of Nabors Industries during the 3rd quarter valued at about $220,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.