Nabors Industries Ltd. (NYSE:NBR) Stock Has Average Price Target of $104.14

by · The Cerbat Gem

Nabors Industries Ltd. (NYSE:NBR – Get Free Report) has been assigned a consensus recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $104.14.

Several equities research analysts have weighed in on the company. Barclays set a $93.00 price target on Nabors Industries and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Citigroup cut their price objective on shares of Nabors Industries from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, November 4th. Weiss Ratings upgraded shares of Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Wall Street Zen raised shares of Nabors Industries from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Morgan Stanley set a $110.00 target price on shares of Nabors Industries in a research note on Thursday, August 20th.

Read Our Latest Analysis on Nabors Industries

Nabors Industries Trading Up 0.2%

NYSE NBR opened at $73.35 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.77 and a debt-to-equity ratio of 2.04. The firm has a market cap of $1.11 billion, a PE ratio of -15.77 and a beta of 1.09. The company has a 50 day moving average price of $83.65 and a 200 day moving average price of $84.54. Nabors Industries has a 52 week low of $44.04 and a 52 week high of $112.90.

Nabors Industries (NYSE:NBR – Get Free Report) last announced its earnings results on Wednesday, October 28th. The oil and gas company reported ($1.24) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($1.10). Nabors Industries had a negative return on equity of 3.98% and a negative net margin of 1.17%. The business had revenue of $872.19 million for the quarter, compared to analysts’ expectations of $859.20 million. During the same quarter last year, the firm earned $16.85 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Nabors Industries will post -3.87 EPS for the current fiscal year.

Insider Transactions at Nabors Industries

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $92.30, for a total value of $295,360.00. Following the completion of the transaction, the director owned 5,264 shares of the company’s stock, valued at approximately $485,867.20. This trade represents a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.32% of the company’s stock.

Institutional Investors Weigh In On Nabors Industries

A number of large investors have recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in Nabors Industries by 106.6% in the 2nd quarter. IFP Advisors Inc now owns 436 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 225 shares during the last quarter. State of Wyoming acquired a new stake in Nabors Industries during the 3rd quarter worth about $41,000. State of Alaska Department of Revenue acquired a new stake in Nabors Industries during the 3rd quarter worth about $41,000. EverSource Wealth Advisors LLC grew its stake in Nabors Industries by 29.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 622 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 141 shares during the last quarter. Finally, Allworth Financial LP grew its stake in Nabors Industries by 16.9% during the 2nd quarter. Allworth Financial LP now owns 1,134 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 164 shares during the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

About Nabors Industries

(Get Free Report)

Nabors Industries Ltd. is a global provider of drilling and well-construction services to the oil and gas industry. The company operates land-based drilling rigs and offshore drilling units, serving exploration and production companies developing conventional and unconventional oil and natural gas resources.

Its services and products include contract drilling, directional drilling, measurement-while-drilling and logging-while-drilling technologies, wellbore placement, and drilling-related equipment.

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