ValuEngine lowered shares of Nabors Industries (NYSE:NBR) from a sell rating to a strong sell rating in a research report report published on Friday morning.
Other equities analysts also recently issued reports about the company. Citigroup set a $10.00 target price on Nabors Industries and gave the stock a buy rating in a research note on Thursday, October 5th. Bank of America cut their target price on Nabors Industries from $8.50 to $8.00 and set a buy rating for the company in a research note on Wednesday, November 8th. Jefferies Group raised Nabors Industries from a hold rating to a buy rating and increased their target price for the stock from $6.19 to $9.00 in a research note on Wednesday, November 8th. Cowen set a $9.00 target price on Nabors Industries and gave the stock a buy rating in a research note on Thursday, October 26th. Finally, UBS Group cut their target price on Nabors Industries from $11.00 to $10.00 and set a buy rating for the company in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $10.89.
Nabors Industries (NYSE:NBR) opened at $7.45 on Friday. The stock has a market capitalization of $2,370.00, a P/E ratio of -2.78 and a beta of 1.58. Nabors Industries has a one year low of $5.32 and a one year high of $16.37. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brave Asset Management Inc. acquired a new stake in Nabors Industries during the 3rd quarter valued at $101,000. Cetera Advisors LLC acquired a new stake in Nabors Industries during the 3rd quarter valued at $115,000. Clear Harbor Asset Management LLC acquired a new stake in Nabors Industries during the 3rd quarter valued at $121,000. Oakbrook Investments LLC acquired a new stake in Nabors Industries during the 4th quarter valued at $103,000. Finally, State of Alaska Department of Revenue acquired a new stake in Nabors Industries during the 4th quarter valued at $109,000. Institutional investors and hedge funds own 87.40% of the company’s stock.
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Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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