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

Nabors Industries Ltd. (NYSE:NBR) has earned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $61.17.

Several analysts have commented on NBR shares. Morgan Stanley decreased their price target on shares of Nabors Industries from $115.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Barclays lowered their target price on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada cut their price target on shares of Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Finally, Susquehanna cut their price target on shares of Nabors Industries from $32.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st.

Nabors Industries Stock Performance

NBR stock opened at $29.14 on Monday. The firm has a market cap of $279.86 million, a price-to-earnings ratio of -1.30 and a beta of 1.96. The firm has a 50-day simple moving average of $34.37 and a two-hundred day simple moving average of $52.65. Nabors Industries has a one year low of $25.11 and a one year high of $105.96. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) EPS for the quarter, missing the consensus estimate of ($2.64) by ($4.86). The firm had revenue of $742.78 million for the quarter, compared to analysts’ expectations of $706.49 million. Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted ($4.54) earnings per share. On average, equities analysts forecast that Nabors Industries will post -6.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Nabors Industries by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 696,155 shares of the oil and gas company’s stock valued at $39,799,000 after purchasing an additional 18,017 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Nabors Industries by 10.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company’s stock worth $16,556,000 after acquiring an additional 27,849 shares during the period. American Century Companies Inc. increased its stake in shares of Nabors Industries by 12.0% in the fourth quarter. American Century Companies Inc. now owns 285,815 shares of the oil and gas company’s stock worth $16,340,000 after acquiring an additional 30,537 shares during the period. Miller Value Partners LLC increased its stake in shares of Nabors Industries by 99.5% in the fourth quarter. Miller Value Partners LLC now owns 281,195 shares of the oil and gas company’s stock worth $16,076,000 after acquiring an additional 140,230 shares during the period. Finally, Barings LLC acquired a new stake in shares of Nabors Industries in the first quarter worth $8,864,000. Institutional investors and hedge funds 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.