Nabors Industries (NYSE:NBR)‘s stock had its “buy” rating reiterated by analysts at Seaport Global Securities in a research note issued on Thursday. They currently have a $13.00 price objective on the oil and gas company’s stock. Seaport Global Securities’ target price indicates a potential upside of 57.58% from the stock’s current price.

Several other analysts also recently weighed in on the company. Jefferies Group upgraded Nabors Industries from a “hold” rating to a “buy” rating and lifted their target price for the stock from $6.19 to $9.00 in a research report on Wednesday, November 8th. Royal Bank of Canada set a $8.00 target price on Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research downgraded Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $6.00 target price on Nabors Industries and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Credit Suisse Group set a $8.00 price target on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, October 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $10.89.

Shares of Nabors Industries (NYSE NBR) opened at $8.25 on Thursday. Nabors Industries has a 52-week low of $5.32 and a 52-week high of $17.92. The firm has a market capitalization of $2,620.00, a price-to-earnings ratio of -3.08 and a beta of 1.59. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The business had revenue of $662.50 million for the quarter, compared to the consensus estimate of $674.03 million. During the same quarter last year, the business posted ($0.55) earnings per share. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. equities research analysts predict that Nabors Industries will post -1.63 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Nabors Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 22,714,902 shares of the oil and gas company’s stock valued at $184,900,000 after purchasing an additional 149,637 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Nabors Industries by 11.7% in the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after purchasing an additional 2,243,068 shares during the last quarter. Van ECK Associates Corp grew its stake in Nabors Industries by 1.7% in the third quarter. Van ECK Associates Corp now owns 16,252,747 shares of the oil and gas company’s stock valued at $131,160,000 after purchasing an additional 274,089 shares during the last quarter. State Street Corp grew its stake in Nabors Industries by 3.0% in the second quarter. State Street Corp now owns 8,519,273 shares of the oil and gas company’s stock valued at $69,351,000 after purchasing an additional 248,054 shares during the last quarter. Finally, FMR LLC grew its stake in Nabors Industries by 33.3% in the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock valued at $69,068,000 after purchasing an additional 2,118,198 shares during the last quarter. Institutional investors own 87.79% of the company’s stock.

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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)

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