Nabors Industries (NYSE:NBR) Receives “Hold” Rating from Benchmark

Benchmark reiterated their hold rating on shares of Nabors Industries (NYSE:NBR) in a research note released on Thursday, Benzinga reports.

Several other research analysts have also recently weighed in on NBR. Morgan Stanley reduced their price target on Nabors Industries from $160.00 to $150.00 and set an overweight rating for the company in a research report on Monday, February 12th. Susquehanna reiterated a neutral rating and set a $88.00 price target on shares of Nabors Industries in a research report on Monday, April 8th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $129.60.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $75.02 on Thursday. Nabors Industries has a 52-week low of $71.42 and a 52-week high of $141.47. The company has a debt-to-equity ratio of 4.63, a quick ratio of 1.23 and a current ratio of 1.36. The business has a 50-day moving average price of $83.30 and a 200-day moving average price of $87.53.

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

Institutional Trading of Nabors Industries

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in Nabors Industries by 29.1% in the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock valued at $127,000 after purchasing an additional 332 shares during the period. Quadrature Capital Ltd boosted its stake in shares of Nabors Industries by 75.1% in the fourth quarter. Quadrature Capital Ltd now owns 13,564 shares of the oil and gas company’s stock worth $1,108,000 after acquiring an additional 5,818 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Nabors Industries by 111.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock worth $32,415,000 after acquiring an additional 209,450 shares during the last quarter. Readystate Asset Management LP boosted its stake in shares of Nabors Industries by 44.5% in the fourth quarter. Readystate Asset Management LP now owns 26,499 shares of the oil and gas company’s stock worth $2,163,000 after acquiring an additional 8,164 shares during the last quarter. Finally, Gendell Jeffrey L boosted its stake in shares of Nabors Industries by 3.2% in the fourth quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company’s stock worth $32,350,000 after acquiring an additional 12,119 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.