Nabors Industries Ltd. (NYSE:NBR) Stock Has Average Target Price of $103.43 According to Brokerages

Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned an average recommendation of “Hold” from the eight analysts that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $103.43.

Several research firms have weighed in on NBR. Morgan Stanley set a $110.00 target price on Nabors Industries in a research note on Thursday, August 20th. Barclays set a $93.00 price target on Nabors Industries and gave the stock an “equal weight” rating in a research report on Wednesday, August 5th. Susquehanna reiterated a “neutral” rating and issued a $91.00 target price (up from $85.00) on shares of Nabors Industries in a report on Monday, October 5th. Zacks Research cut shares of Nabors Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st.

Nabors Industries Trading Up 0.1%

Shares of NYSE NBR opened at $78.25 on Monday. Nabors Industries has a 12 month low of $39.22 and a 12 month high of $112.90. The business has a fifty day simple moving average of $86.57 and a 200-day simple moving average of $88.22. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 5.82 and a beta of 1.11. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 2.24.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, June 30th. The oil and gas company reported ($2.04) earnings per share for the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%. The firm had revenue of $814.79 million during the quarter. Sell-side analysts predict that Nabors Industries will post -3.54 EPS for the current year.

Insider Activity at Nabors Industries

In other news, Director David Tudor sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $92.30, for a total value of $295,360.00. Following the transaction, the director directly owned 5,264 shares of the company’s stock, valued at $485,867.20. The trade was a 37.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NBR. Ellsworth Advisors LLC bought a new position in shares of Nabors Industries in the 3rd quarter worth $822,000. State of Alaska Department of Revenue acquired a new position in shares of Nabors Industries in the third quarter valued at approximately $41,000. Arlington Capital Management Inc. acquired a new position in Nabors Industries in the 2nd quarter worth $3,144,000. Engineers Gate Manager LP boosted its position in shares of Nabors Industries by 1,518.1% during the second quarter. Engineers Gate Manager LP now owns 414,599 shares of the oil and gas company’s stock worth $34,830,000 after buying an additional 388,976 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Nabors Industries during the 2nd quarter worth approximately $106,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

About Nabors Industries

Nabors Industries Ltd. (NYSE:NBR) is an international drilling contractor that provides land-based and offshore drilling services to oil and natural gas exploration and production companies. The company operates a fleet of drilling rigs and supplies related equipment, personnel and technical expertise for drilling and well-construction projects.

Its services include contract land drilling, offshore drilling, directional drilling and drilling-related services. Nabors also develops and provides drilling automation, software and other technologies intended to improve operational efficiency, safety and well placement.