Nabors Industries Ltd. (NBR) PT Set at $10.00 by Citigroup Inc.
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.
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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.
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