Nabors Industries Ltd. (NYSE:NBR) Given Consensus Rating of “Hold” by Brokerages

Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $97.00.

NBR has been the subject of a number of recent research reports. Barclays cut their target price on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective on shares of Nabors Industries in a research report on Wednesday, October 16th. Citigroup lifted their target price on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Susquehanna dropped their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI reduced their price target on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research report on Thursday, October 24th.

Nabors Industries Price Performance

NYSE:NBR opened at $61.57 on Tuesday. Nabors Industries has a one year low of $50.15 and a one year high of $105.96. The stock has a market cap of $659.35 million, a PE ratio of -3.35 and a beta of 2.05. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88. The stock has a 50 day moving average price of $68.21 and a 200 day moving average price of $73.34.

Institutional Investors Weigh In On Nabors Industries

A number of institutional investors and hedge funds have recently made changes to their positions in NBR. Dimensional Fund Advisors LP increased its holdings in Nabors Industries by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock valued at $20,634,000 after purchasing an additional 16,890 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Nabors Industries by 1.5% in the third quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company’s stock valued at $13,286,000 after buying an additional 3,054 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Nabors Industries by 20.2% in the 2nd quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company’s stock valued at $14,250,000 after buying an additional 33,616 shares during the period. Van ECK Associates Corp lifted its stake in Nabors Industries by 6.8% during the 2nd quarter. Van ECK Associates Corp now owns 197,177 shares of the oil and gas company’s stock worth $14,031,000 after acquiring an additional 12,622 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Nabors Industries by 42.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock valued at $8,189,000 after acquiring an additional 34,473 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

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.