Nabors Industries (NYSE:NBR) Price Target Cut to $79.00 by Analysts at Susquehanna

Nabors Industries (NYSE:NBR) had its price objective decreased by analysts at Susquehanna from $88.00 to $79.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price target would suggest a potential upside of 3.65% from the company’s current price.

Several other brokerages have also commented on NBR. Morgan Stanley dropped their price target on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Benchmark restated a “hold” rating on shares of Nabors Industries in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and an average target price of $127.80.

Nabors Industries Stock Down 0.0 %

NYSE:NBR traded down $0.02 on Friday, reaching $76.22. The stock had a trading volume of 25,832 shares, compared to its average volume of 248,650. The stock has a market cap of $721.80 million, a P/E ratio of -5.59 and a beta of 2.33. Nabors Industries has a 12-month low of $71.42 and a 12-month high of $141.47. The company has a 50-day moving average of $83.30 and a 200 day moving average of $87.53. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 4.63.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share for the quarter, missing the consensus estimate of ($2.24) by ($2.92). The business had revenue of $743.91 million for the quarter, compared to analyst estimates of $730.59 million. Nabors Industries had a negative return on equity of 23.12% and a negative net margin of 3.45%. On average, research analysts predict that Nabors Industries will post -5.56 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. RIA Advisory Group LLC bought a new position in shares of Nabors Industries in the fourth quarter valued at approximately $980,000. Pantechnicon Advisors LLP bought a new stake in Nabors Industries during the third quarter worth approximately $15,392,000. Panagora Asset Management Inc. bought a new stake in Nabors Industries during the third quarter worth approximately $2,673,000. American Century Companies Inc. boosted its holdings in Nabors Industries by 11.0% during the third quarter. American Century Companies Inc. now owns 115,486 shares of the oil and gas company’s stock worth $14,221,000 after buying an additional 11,425 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Nabors Industries by 48.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after buying an additional 635 shares in the last quarter. 81.92% of the stock is currently owned by 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.