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

Nabors Industries Ltd. (NYSE:NBR) has received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $127.80.

Several research firms have weighed in on NBR. Benchmark restated a “hold” rating on shares of Nabors Industries in a research note on Thursday, April 25th. Morgan Stanley dropped their target price on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, February 12th. Finally, Susquehanna decreased their price target on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday.

Hedge Funds Weigh In On Nabors Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its holdings 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 during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Nabors Industries during the 4th quarter valued at about $80,000. GAMMA Investing LLC purchased a new stake in Nabors Industries in the 4th quarter valued at about $97,000. Sippican Capital Advisors bought a new position in Nabors Industries in the 3rd quarter worth about $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Nabors Industries by 48.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 635 shares during the period. 81.92% of the stock is owned by hedge funds and other institutional investors.

Nabors Industries Stock Up 1.1 %

Shares of NBR stock opened at $78.07 on Thursday. The company has a market capitalization of $835.35 million, a price-to-earnings ratio of -5.65 and a beta of 2.33. The company has a debt-to-equity ratio of 4.81, a current ratio of 1.78 and a quick ratio of 1.23. The company’s fifty day moving average price is $83.00 and its 200-day moving average price is $86.62. Nabors Industries has a one year low of $71.42 and a one year high of $141.47.

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

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.