Brokerages Set Nabors Industries Ltd. (NYSE:NBR) Target Price at $97.00

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $97.00.

A number of equities research analysts recently weighed in on the company. Citigroup upped their price objective on Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI lowered their price objective on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research note on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price objective on shares of Nabors Industries in a report on Wednesday, October 16th. Susquehanna dropped their price objective on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Barclays lowered their price target on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. nVerses Capital LLC acquired a new position in shares of Nabors Industries during the 3rd quarter worth about $45,000. R Squared Ltd acquired a new stake in Nabors Industries in the 4th quarter valued at about $70,000. Signaturefd LLC grew its stake in shares of Nabors Industries by 52.9% in the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 472 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Nabors Industries in the 3rd quarter valued at approximately $220,000. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Nabors Industries by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock valued at $254,000 after buying an additional 181 shares during the period. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Trading Down 1.3 %

Shares of NYSE NBR opened at $59.21 on Friday. The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. The stock has a market capitalization of $634.17 million, a P/E ratio of -3.22 and a beta of 2.05. Nabors Industries has a 1-year low of $50.15 and a 1-year high of $105.96. The business has a fifty day moving average price of $63.96 and a 200 day moving average price of $72.49.

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.