Morgan Stanley Issues Pessimistic Forecast for Nabors Industries (NYSE:NBR) Stock Price

Nabors Industries (NYSE:NBR) had its price target reduced by Morgan Stanley from $75.00 to $50.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the oil and gas company’s stock.

Several other research analysts also recently commented on NBR. Royal Bank of Canada lowered their price objective on shares of Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. Citigroup lowered their price objective on shares of Nabors Industries from $50.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday. Susquehanna lowered their price objective on shares of Nabors Industries from $32.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Finally, Barclays lowered their price objective on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.00.

Nabors Industries Stock Down 2.7%

NYSE NBR opened at $29.89 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. Nabors Industries has a 1-year low of $25.11 and a 1-year high of $105.96. The company has a 50 day moving average of $33.57 and a 200-day moving average of $51.47. The company has a market cap of $287.03 million, a price-to-earnings ratio of -1.34 and a beta of 1.96.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.64) by ($4.86). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The business had revenue of $742.78 million during the quarter, compared to analyst estimates of $706.49 million. During the same quarter in the previous year, the firm posted ($4.54) earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. On average, equities research analysts expect that Nabors Industries will post -6.22 earnings per share for the current fiscal year.

Institutional Trading of Nabors Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Nabors Industries by 4.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company’s stock worth $299,000 after buying an additional 228 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Nabors Industries by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company’s stock worth $502,000 after buying an additional 459 shares during the last quarter. State of Wyoming grew its stake in shares of Nabors Industries by 20.5% during the first quarter. State of Wyoming now owns 2,941 shares of the oil and gas company’s stock worth $123,000 after buying an additional 500 shares during the last quarter. US Bancorp DE grew its stake in shares of Nabors Industries by 234.9% during the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock worth $41,000 after buying an additional 505 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Nabors Industries by 8.8% during the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock worth $397,000 after buying an additional 563 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Company Profile

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.