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

Nabors Industries Ltd. (NYSE:NBR) has been given an average recommendation of “Hold” by the eight brokerages that are presently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $97.00.

A number of research analysts have issued reports on NBR shares. Barclays reduced their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Citigroup upped their target price on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a 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 on the stock in a report on Thursday, October 24th. Susquehanna reduced their target price 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 target price on shares of Nabors Industries in a report on Wednesday, October 16th.

Nabors Industries Price Performance

Nabors Industries stock opened at $72.22 on Monday. Nabors Industries has a 52 week low of $59.67 and a 52 week high of $105.96. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. The firm’s 50-day simple moving average is $72.81 and its 200 day simple moving average is $74.97. The firm has a market capitalization of $689.70 million, a PE ratio of -3.93 and a beta of 2.09.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of 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. Intech Investment Management LLC increased its position in Nabors Industries by 6.4% during the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock worth $346,000 after purchasing an additional 322 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Nabors Industries by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,471 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 399 shares in the last quarter. Signaturefd LLC increased its position in Nabors Industries by 52.9% during the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 472 shares in the last quarter. Finally, Swiss National Bank increased its position in Nabors Industries by 3.4% during the 1st quarter. Swiss National Bank now owns 18,500 shares of the oil and gas company’s stock worth $1,593,000 after purchasing an additional 600 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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.