Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “buy” rating reissued by equities researchers at Citigroup Inc. in a report issued on Wednesday. They presently have a $8.00 price objective on the oil and gas company’s stock, down from their prior price objective of $9.00. Citigroup Inc.’s price target would indicate a potential upside of 10.65% from the stock’s current price.

NBR has been the topic of a number of other research reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $13.00 target price (down previously from $20.00) on shares of Nabors Industries in a research report on Tuesday, May 30th. Zacks Investment Research raised shares of Nabors Industries from a “sell” rating to a “hold” rating in a research report on Monday. ValuEngine lowered shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Wells Fargo & Company lowered shares of Nabors Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, July 7th. Finally, Guggenheim raised shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $13.38.

Nabors Industries (NBR) traded up 5.53% on Wednesday, hitting $7.63. 3,610,995 shares of the stock were exchanged. The company’s 50 day moving average is $6.97 and its 200 day moving average is $9.65. Nabors Industries has a 1-year low of $6.18 and a 1-year high of $18.40. The stock’s market cap is $2.18 billion.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The company had revenue of $630.50 million for the quarter, compared to the consensus estimate of $589.79 million. During the same period last year, the firm posted ($0.35) EPS. The company’s revenue was up 21.9% compared to the same quarter last year. On average, equities research analysts expect that Nabors Industries will post ($1.50) earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This report was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The original version of this report can be read at https://www.thecerbatgem.com/2017/09/13/nabors-industries-ltd-nbr-given-buy-rating-at-citigroup-inc.html.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bollard Group LLC lifted its position in Nabors Industries by 1.2% during the 2nd quarter. Bollard Group LLC now owns 312,179 shares of the oil and gas company’s stock worth $2,541,000 after buying an additional 3,816 shares in the last quarter. KBC Group NV lifted its position in Nabors Industries by 15.4% during the 1st quarter. KBC Group NV now owns 423,891 shares of the oil and gas company’s stock worth $5,540,000 after buying an additional 56,564 shares in the last quarter. Wells Fargo & Company MN lifted its position in Nabors Industries by 73.5% during the 1st quarter. Wells Fargo & Company MN now owns 747,410 shares of the oil and gas company’s stock worth $9,770,000 after buying an additional 316,556 shares in the last quarter. Paloma Partners Management Co lifted its position in Nabors Industries by 117.2% during the 1st quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock worth $901,000 after buying an additional 37,175 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its position in Nabors Industries by 1.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 131,340 shares of the oil and gas company’s stock worth $1,717,000 after buying an additional 1,990 shares in the last quarter. Institutional investors and hedge funds own 95.60% 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.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

Receive News & Stock Ratings for Nabors Industries Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries Ltd. and related stocks with our FREE daily email newsletter.