Nabors Industries (NYSE:NBR) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Nabors Industries (NYSE:NBR – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the oil and gas company’s stock.

A number of other brokerages have also commented on NBR. Susquehanna restated a neutral rating and issued a $215.00 price target on shares of Nabors Industries in a report on Tuesday, March 14th. Citigroup cut their price target on Nabors Industries from $210.00 to $200.00 and set a buy rating on the stock in a report on Wednesday, February 22nd. Royal Bank of Canada boosted their price target on Nabors Industries from $193.00 to $215.00 and gave the company a sector perform rating in a report on Thursday, February 9th. Morgan Stanley boosted their price target on Nabors Industries from $140.00 to $175.00 and gave the company an underweight rating in a report on Wednesday, January 4th. Finally, Benchmark assumed coverage on Nabors Industries in a report on Thursday, January 19th. They set a hold rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $199.86.

Nabors Industries Stock Down 6.7 %

NYSE:NBR opened at $107.56 on Thursday. Nabors Industries has a 1 year low of $92.66 and a 1 year high of $207.67. The company has a debt-to-equity ratio of 4.73, a current ratio of 1.68 and a quick ratio of 1.46. The stock has a 50-day moving average price of $159.26 and a two-hundred day moving average price of $147.84.

Institutional Trading of Nabors Industries

Several institutional investors and hedge funds have recently bought and sold shares of NBR. ProShare Advisors LLC acquired a new position in shares of Nabors Industries in the first quarter valued at approximately $243,000. Raymond James & Associates acquired a new position in shares of Nabors Industries in the first quarter valued at approximately $213,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Nabors Industries in the first quarter valued at approximately $251,000. Bank of New York Mellon Corp grew its position in shares of Nabors Industries by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 73,869 shares of the oil and gas company’s stock valued at $11,281,000 after purchasing an additional 907 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Nabors Industries by 108.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,779 shares of the oil and gas company’s stock valued at $576,000 after purchasing an additional 1,967 shares during the last quarter. Institutional investors own 71.98% of the company’s stock.

Nabors Industries Company Profile

(Get Rating)

Nabors Industries Ltd. engages in the provision of platform work over and drilling rigs. It also provides performance tools, directional drilling services, tubular running services, and innovative technologies. It operates through the following business segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies.