Susquehanna Trims Nabors Industries (NYSE:NBR) Target Price to $79.00

Nabors Industries (NYSE:NBR) had its price target trimmed by Susquehanna from $88.00 to $79.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

Other research analysts have also issued reports about the company. Benchmark reissued a hold rating on shares of Nabors Industries in a report on Thursday. Morgan Stanley dropped their target price on Nabors Industries from $160.00 to $150.00 and set an overweight rating on the stock in a report on Monday, February 12th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $127.80.

Nabors Industries Stock Up 1.3 %

Shares of NYSE:NBR opened at $77.20 on Friday. The business’s 50-day moving average is $83.14 and its 200 day moving average is $87.28. The company has a quick ratio of 1.23, a current ratio of 1.78 and a debt-to-equity ratio of 4.81. Nabors Industries has a 1 year low of $71.42 and a 1 year high of $141.47.

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 for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92). The firm had revenue of $743.91 million during the quarter, compared to analyst estimates of $730.59 million. Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. On average, analysts anticipate that Nabors Industries will post -5.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

A number of hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its position in Nabors Industries by 0.9% during the third quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock worth $2,070,000 after purchasing an additional 148 shares in the last quarter. Swiss National Bank boosted its position in Nabors Industries by 1.5% during the third quarter. Swiss National Bank now owns 19,900 shares of the oil and gas company’s stock worth $2,450,000 after purchasing an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its position in Nabors Industries by 29.1% during the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 332 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Nabors Industries by 5.6% in the third quarter. Harbor Capital Advisors Inc. now owns 6,416 shares of the oil and gas company’s stock valued at $790,000 after acquiring an additional 340 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Nabors Industries by 202.4% in the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 502 shares in the last quarter. Hedge funds and other 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.