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

Nabors Industries Ltd. (NYSE:NBR) has been assigned a consensus recommendation of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $97.00.

NBR has been the topic of several analyst reports. Susquehanna cut their price target on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price target on shares of Nabors Industries in a research report on Wednesday, October 16th. Citigroup upped their price objective on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays cut their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Finally, Evercore ISI lowered their price target on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a report on Thursday, October 24th.

Nabors Industries Stock Down 1.7 %

NBR stock opened at $57.26 on Friday. The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. The firm’s fifty day simple moving average is $63.21 and its 200-day simple moving average is $72.24. Nabors Industries has a 12 month low of $50.15 and a 12 month high of $105.96. The company has a market capitalization of $613.25 million, a P/E ratio of -3.11 and a beta of 2.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in Nabors Industries by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after acquiring an additional 16,890 shares during the period. Hsbc Holdings PLC purchased a new position in Nabors Industries in the 2nd quarter valued at about $1,242,000. Intech Investment Management LLC acquired a new stake in Nabors Industries in the 2nd quarter worth about $359,000. Ensign Peak Advisors Inc increased its stake in Nabors Industries by 8.8% during the 2nd quarter. Ensign Peak Advisors Inc now owns 8,649 shares of the oil and gas company’s stock worth $615,000 after buying an additional 700 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Nabors Industries by 14.5% during the second quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock valued at $338,000 after acquiring an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.