Nabors Industries Ltd. (NYSE:NBR) has been given a $10.00 price target by analysts at Citigroup Inc. in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup Inc.’s price target points to a potential upside of 32.45% from the company’s previous close.

NBR has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. ValuEngine downgraded shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Wells Fargo & Company downgraded shares of Nabors Industries from an “outperform” rating to a “market perform” rating in a report on Friday, July 7th. Guggenheim upgraded shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a report on Tuesday, August 15th. Finally, Societe Generale began coverage on shares of Nabors Industries in a report on Thursday, August 31st. They issued a “hold” rating and a $7.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $12.24.

Shares of Nabors Industries (NBR) opened at 7.55 on Thursday. The stock’s market cap is $2.16 billion. Nabors Industries has a 1-year low of $6.18 and a 1-year high of $18.40. The stock has a 50 day moving average of $7.28 and a 200 day moving average of $8.92.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). The firm had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) EPS. Equities research analysts forecast that Nabors Industries will post ($1.50) EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Nabors Industries Ltd. (NBR) PT Set at $10.00 by Citigroup Inc.” was first published by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.dailypolitical.com/2017/10/07/nabors-industries-ltd-nbr-pt-set-at-10-00-by-citigroup-inc.html.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Nabors Industries by 7,474.6% in the first quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock valued at $324,317,000 after purchasing an additional 24,486,309 shares during the period. Vanguard Group Inc. raised its holdings in Nabors Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 22,714,902 shares of the oil and gas company’s stock valued at $184,900,000 after acquiring an additional 149,637 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Nabors Industries by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 19,723,712 shares of the oil and gas company’s stock valued at $257,786,000 after acquiring an additional 1,053,328 shares in the last quarter. Morgan Stanley raised its holdings in Nabors Industries by 0.6% in the first quarter. Morgan Stanley now owns 18,787,378 shares of the oil and gas company’s stock valued at $245,552,000 after acquiring an additional 114,423 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Nabors Industries by 16.4% in the second quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock valued at $133,828,000 after acquiring an additional 2,315,688 shares in the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.

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.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

Receive News & Ratings for Nabors Industries Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.