Nabors Industries Ltd. (NYSE:NBR) Receives $97.00 Consensus Target Price from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned an average rating of “Hold” from the seven research firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $97.00.

NBR has been the subject of several research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 target price on shares of Nabors Industries in a research note on Wednesday, October 16th. Barclays reduced their price objective on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Citigroup increased their price objective on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI reduced their target price on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a report on Thursday, October 24th. Finally, Susquehanna lowered their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th.

Nabors Industries Trading Up 1.8 %

Shares of NYSE:NBR opened at $61.72 on Tuesday. Nabors Industries has a 52-week low of $50.15 and a 52-week high of $105.96. The company has a debt-to-equity ratio of 5.43, a quick ratio of 1.63 and a current ratio of 1.88. The company has a market capitalization of $660.96 million, a P/E ratio of -3.36 and a beta of 2.05. The company has a 50-day simple moving average of $68.43 and a 200 day simple moving average of $73.30.

Institutional Investors Weigh In On Nabors Industries

Several hedge funds have recently added to or reduced their stakes in NBR. Barclays PLC raised its stake in shares of Nabors Industries by 60.8% during the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after acquiring an additional 42,483 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Nabors Industries during the 2nd quarter worth about $1,242,000. Centiva Capital LP bought a new stake in shares of Nabors Industries in the 3rd quarter valued at about $531,000. Dimensional Fund Advisors LP increased its stake in shares of Nabors Industries by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock valued at $20,634,000 after buying an additional 16,890 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Nabors Industries by 42.8% during the second quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock worth $8,189,000 after acquiring an additional 34,473 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.

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.