Nabors Industries Ltd. (NYSE:NBR) Receives $97.00 Average PT from Brokerages

Nabors Industries Ltd. (NYSE:NBR) has received a consensus rating of “Hold” from the seven analysts that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $97.00.

A number of equities analysts have recently issued reports on NBR shares. Susquehanna dropped their price objective on shares of 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 target price on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective on shares of Nabors Industries in a research note on Wednesday, October 16th. Citigroup lifted their target price on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Evercore ISI decreased their price target on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research report on Thursday, October 24th.

Nabors Industries Stock Down 1.7 %

NYSE:NBR 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 has a market cap of $613.25 million, a PE ratio of -3.11 and a beta of 2.05. The company has a 50-day moving average of $63.21 and a 200 day moving average of $72.24. Nabors Industries has a 1-year low of $50.15 and a 1-year high of $105.96.

Hedge Funds Weigh In On Nabors Industries

Several hedge funds have recently modified their holdings of NBR. nVerses Capital LLC purchased a new stake in Nabors Industries during the 3rd quarter worth approximately $45,000. R Squared Ltd purchased a new stake in shares of Nabors Industries during the fourth quarter valued at $70,000. Signaturefd LLC increased its position in shares of Nabors Industries by 52.9% in the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 472 shares during the period. Wellington Management Group LLP purchased a new position in Nabors Industries in the 3rd quarter worth $220,000. Finally, The Manufacturers Life Insurance Company lifted its position in Nabors Industries by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after acquiring an additional 181 shares during the period. Institutional investors and hedge funds 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.