Nabors Industries (NYSE:NBR) PT Lowered to $79.00 at Susquehanna

Nabors Industries (NYSE:NBR) had its price target lowered by research analysts at Susquehanna from $88.00 to $79.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price target indicates a potential upside of 2.33% from the stock’s current price.

Several other analysts have also recently weighed in on NBR. Benchmark reissued a “hold” rating on shares of Nabors Industries in a research note on Thursday. Morgan Stanley cut their target price on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and an average target price of $127.80.

Nabors Industries Stock Performance

Shares of NBR stock opened at $77.20 on Friday. The business’s 50-day moving average price is $83.14 and its 200-day moving average price is $87.09. Nabors Industries has a 12 month low of $71.42 and a 12 month high of $141.47. The company has a current ratio of 1.78, a quick ratio of 1.23 and a debt-to-equity ratio of 4.81. The firm has a market capitalization of $731.08 million, a price-to-earnings ratio of -5.59 and a beta of 2.33.

Nabors Industries (NYSE:NBR) last posted its earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) EPS for the quarter, missing the consensus estimate of ($2.24) by ($2.92). Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%. The business had revenue of $743.91 million for the quarter, compared to analyst estimates of $730.59 million. Equities research analysts forecast that Nabors Industries will post -5.56 EPS for the current year.

Institutional Trading of Nabors Industries

Institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in shares of Nabors Industries by 0.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock valued at $2,070,000 after purchasing an additional 148 shares during the period. Swiss National Bank lifted its stake in Nabors Industries by 1.5% in the third quarter. Swiss National Bank now owns 19,900 shares of the oil and gas company’s stock valued at $2,450,000 after buying an additional 300 shares during the period. GAMMA Investing LLC lifted its stake in Nabors Industries by 29.1% in the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 332 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Nabors Industries by 5.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,416 shares of the oil and gas company’s stock worth $790,000 after buying an additional 340 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of Nabors Industries by 202.4% in the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 502 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

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.