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

Shares of Nabors Industries Ltd. (NYSE:NBR) have been given an average recommendation of “Hold” by the six ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $108.50.

A number of analysts have weighed in on NBR shares. Royal Bank of Canada reissued a “sector perform” rating and set a $114.00 price objective on shares of Nabors Industries in a report on Thursday, July 25th. Citigroup decreased their price target on Nabors Industries from $95.00 to $91.00 and set a “buy” rating for the company in a report on Wednesday, July 10th.

Institutional Trading of Nabors Industries

Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Nabors Industries by 111.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock worth $32,415,000 after acquiring an additional 209,450 shares in the last quarter. Elm Ridge Management LLC increased its stake in shares of Nabors Industries by 17.6% during the 4th quarter. Elm Ridge Management LLC now owns 30,374 shares of the oil and gas company’s stock valued at $2,479,000 after acquiring an additional 4,553 shares during the last quarter. Vanguard Group Inc. lifted its position in Nabors Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock valued at $70,550,000 after buying an additional 40,078 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Nabors Industries by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock worth $24,102,000 after buying an additional 13,324 shares during the period. Finally, Burney Co. acquired a new stake in shares of Nabors Industries in the first quarter worth $989,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Performance

Shares of NBR stock opened at $75.37 on Wednesday. The firm’s 50 day moving average price is $80.60 and its 200-day moving average price is $78.89. Nabors Industries has a one year low of $59.90 and a one year high of $141.47. The firm has a market cap of $719.78 million, a P/E ratio of -5.46 and a beta of 2.22. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($2.52). Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The company had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. During the same quarter last year, the company earned ($2.26) EPS. Nabors Industries’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, equities research analysts predict that Nabors Industries will post -11.98 EPS for the current year.

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.