Nabors Industries (NYSE:NBR) Price Target Lowered to $53.00 at Barclays

Nabors Industries (NYSE:NBR) had its target price decreased by Barclays from $90.00 to $53.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the oil and gas company’s stock.

A number of other analysts have also recently weighed in on the company. Citigroup increased their price target on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI lowered their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research note on Thursday, October 24th. Finally, Susquehanna dropped their price objective on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Six analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $79.40.

Nabors Industries Stock Down 6.0 %

NBR stock opened at $43.32 on Wednesday. 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 $42.72 and a 1-year high of $105.96. The firm has a fifty day moving average price of $57.41 and a two-hundred day moving average price of $68.18. The firm has a market cap of $416.05 million, a price-to-earnings ratio of -1.94 and a beta of 2.02.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share 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%. Research analysts predict that Nabors Industries will post -6.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NBR. nVerses Capital LLC acquired a new position in Nabors Industries during the 3rd quarter valued at about $45,000. Signaturefd LLC boosted its holdings in shares of Nabors Industries by 52.9% in the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 472 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Nabors Industries in the third quarter valued at approximately $600,000. Intech Investment Management LLC boosted its holdings in shares of Nabors Industries by 6.4% in the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after acquiring an additional 322 shares in the last quarter. Finally, 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 period. 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.