Brokerages Set Nabors Industries Ltd. (NYSE:NBR) PT at $86.40

Shares of Nabors Industries Ltd. (NYSE:NBR) have received an average recommendation of “Hold” from the six analysts that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $79.40.

A number of analysts recently weighed in on the stock. Barclays lowered their price objective 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. Citigroup boosted their target price on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st.

Hedge Funds Weigh In On Nabors Industries

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in Nabors Industries in the fourth quarter worth about $36,000. nVerses Capital LLC acquired a new position in shares of Nabors Industries during the third quarter valued at about $45,000. US Bancorp DE increased its holdings in shares of Nabors Industries by 234.9% during the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 505 shares in the last quarter. R Squared Ltd acquired a new position in shares of Nabors Industries during the fourth quarter valued at about $70,000. Finally, Signaturefd LLC increased its holdings in shares of Nabors Industries by 52.9% during 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. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Stock Down 3.6 %

NYSE:NBR opened at $42.25 on Wednesday. Nabors Industries has a 1-year low of $41.60 and a 1-year high of $105.96. The company has a 50-day moving average of $56.70 and a 200 day moving average of $67.51. The firm has a market cap of $405.74 million, a PE ratio of -1.89 and a beta of 2.02. 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 (NYSE:NBR) last released 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 return on equity of 32.96% and a negative net margin of 5.93%. As a group, research analysts anticipate that Nabors Industries will post -6.22 EPS for the current fiscal year.

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.