Nabors Industries (NYSE:NBR) Earns Hold Rating from Benchmark

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

Several other equities analysts have also recently weighed in on the company. Susquehanna reissued a neutral rating and set a $88.00 price objective on shares of Nabors Industries in a research report on Monday, April 8th. Morgan Stanley cut their price objective 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. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $127.80.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $77.20 on Thursday. Nabors Industries has a fifty-two week low of $71.42 and a fifty-two week high of $141.47. The business has a 50-day moving average of $83.14 and a two-hundred day moving average of $87.09. The stock has a market capitalization of $731.08 million, a P/E ratio of -5.59 and a beta of 2.33. The company has a debt-to-equity ratio of 4.81, a current ratio of 1.78 and a quick ratio of 1.23.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results 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). Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%. The company had revenue of $743.91 million during the quarter, compared to analyst estimates of $730.59 million. On average, equities research analysts predict that Nabors Industries will post -5.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

Several large investors have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its holdings in Nabors Industries by 202.4% in the 4th 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. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Nabors Industries in the 4th quarter valued at approximately $80,000. GAMMA Investing LLC acquired a new position in Nabors Industries in the 4th quarter valued at approximately $97,000. Sippican Capital Advisors acquired a new position in Nabors Industries in the 3rd quarter valued at approximately $205,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Nabors Industries by 48.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock valued at $241,000 after acquiring an additional 635 shares in the last quarter. Institutional investors and hedge funds own 81.92% of the company’s stock.

About Nabors Industries

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.