Nabors Industries (NYSE:NBR) Given New $45.00 Price Target at Susquehanna

Nabors Industries (NYSE:NBR) had its price target lowered by Susquehanna from $53.00 to $45.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price objective would indicate a potential upside of 12.47% from the company’s previous close.

Separately, Barclays decreased their price objective on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating, According to data from MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and a consensus price target of $73.00.

Nabors Industries Stock Up 6.7 %

Shares of NBR opened at $40.01 on Thursday. The firm has a market cap of $384.26 million, a PE ratio of -1.79 and a beta of 2.08. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The company’s fifty day moving average is $53.44 and its two-hundred day moving average is $64.34. Nabors Industries has a fifty-two week low of $34.42 and a fifty-two week high of $105.96.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. Analysts forecast that Nabors Industries will post -6.22 earnings per share for the current year.

Institutional Trading of Nabors Industries

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nabors Industries by 4.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company’s stock valued at $299,000 after acquiring an additional 228 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Nabors Industries by 6.4% in the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock worth $346,000 after purchasing an additional 322 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Nabors Industries by 5.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company’s stock valued at $502,000 after purchasing an additional 459 shares during the period. US Bancorp DE grew its stake in Nabors Industries by 234.9% during the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock worth $41,000 after buying an additional 505 shares during the last quarter. Finally, Inspire Investing LLC increased its position in Nabors Industries by 8.8% in the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock worth $397,000 after buying an additional 563 shares during the period. 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.