Nabors Industries (NYSE:NBR) Shares Down 4.8% – Should You Sell?

Nabors Industries Ltd. (NYSE:NBR) was down 4.8% on Thursday . The stock traded as low as $64.82 and last traded at $64.86. Approximately 65,555 shares changed hands during trading, a decline of 76% from the average daily volume of 272,760 shares. The stock had previously closed at $68.10.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Evercore ISI dropped their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research note on Thursday, October 24th. Susquehanna dropped their price objective on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Barclays dropped their price objective on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a research note on Wednesday, October 16th. Finally, Citigroup lifted their price objective on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and an average price target of $97.00.

Nabors Industries Stock Down 1.6 %

The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88. The firm’s 50-day moving average is $65.90 and its two-hundred day moving average is $72.96. The stock has a market cap of $713.78 million, a P/E ratio of -3.62 and a beta of 2.05.

Institutional Trading of Nabors Industries

Several institutional investors and hedge funds have recently made changes to their positions in NBR. Barclays PLC increased its position in shares of Nabors Industries by 60.8% in the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after buying an additional 42,483 shares in the last quarter. American Century Companies Inc. increased its holdings in Nabors Industries by 20.2% during the 2nd quarter. American Century Companies Inc. now owns 200,250 shares of the oil and gas company’s stock worth $14,250,000 after purchasing an additional 33,616 shares in the last quarter. Hsbc Holdings PLC bought a new position in Nabors Industries during the 2nd quarter worth about $1,242,000. Dimensional Fund Advisors LP increased its holdings in Nabors Industries by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after purchasing an additional 16,890 shares in the last quarter. Finally, PDT Partners LLC increased its holdings in Nabors Industries by 49.7% during the 3rd quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company’s stock worth $3,008,000 after purchasing an additional 15,494 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.