Nabors Industries (NYSE:NBR) Price Target Cut to $79.00 by Analysts at Susquehanna

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

NBR has been the topic of several other reports. Benchmark reaffirmed a hold rating on shares of Nabors Industries in a research note on Thursday. Morgan Stanley reduced their price target on Nabors Industries from $160.00 to $150.00 and set an overweight rating on the stock in a research note on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $127.80.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $77.20 on Friday. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.23 and a current ratio of 1.78. The stock’s fifty day simple moving average is $83.14 and its two-hundred day simple moving average is $87.28. 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 earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) EPS for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92). The business had revenue of $743.91 million for the quarter, compared to the consensus estimate of $730.59 million. Nabors Industries had a negative net margin of 3.45% and a negative return on equity of 23.52%. Research analysts expect that Nabors Industries will post -5.56 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

A number of institutional investors have recently modified their holdings of NBR. Goldman Sachs Group Inc. grew 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. Apollo Management Holdings L.P. bought a new stake in Nabors Industries in the 4th quarter worth about $16,620,000. Gendell Jeffrey L increased its holdings in Nabors Industries by 75.1% in the 3rd quarter. Gendell Jeffrey L now owns 384,182 shares of the oil and gas company’s stock worth $47,308,000 after buying an additional 164,816 shares in the last quarter. Pantechnicon Advisors LLP bought a new stake in Nabors Industries in the 3rd quarter worth about $15,392,000. Finally, Contrarius Investment Management Ltd increased its holdings in Nabors Industries by 23.5% in the 4th quarter. Contrarius Investment Management Ltd now owns 140,626 shares of the oil and gas company’s stock worth $11,479,000 after buying an additional 26,730 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

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.