Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “neutral” rating reaffirmed by equities researchers at Seaport Global Securities in a report released on Friday.

Other analysts have also issued research reports about the company. BMO Capital Markets set a $13.00 target price on Nabors Industries and gave the company a “hold” rating in a report on Saturday, May 6th. Credit Suisse Group set a $18.00 target price on Nabors Industries and gave the company a “buy” rating in a report on Sunday, April 30th. Morgan Stanley reduced their target price on Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday. Evercore ISI restated an “outperform” rating and issued a $18.00 target price on shares of Nabors Industries in a report on Tuesday, June 20th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $15.00 target price on shares of Nabors Industries in a report on Tuesday, April 25th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $14.73.

Shares of Nabors Industries (NBR) opened at 7.05 on Friday. The stock has a 50 day moving average price of $7.87 and a 200-day moving average price of $11.58. The stock’s market cap is $1.97 billion. Nabors Industries has a 12 month low of $6.93 and a 12 month high of $18.40.

Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.03. The business had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. Nabors Industries’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.35) EPS. On average, analysts forecast that Nabors Industries will post ($1.41) EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This report was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another site, it was stolen and reposted in violation of US and international trademark & copyright law. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/08/08/nabors-industries-nysenbr-neutral-rating-reiterated-at-seaport-global-securities.html.

In other Nabors Industries news, CFO William J. Restrepo purchased 22,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were bought at an average cost of $8.25 per share, with a total value of $181,500.00. Following the completion of the transaction, the chief financial officer now owns 959,694 shares in the company, valued at approximately $7,917,475.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.

Several large investors have recently modified their holdings of NBR. Sirios Capital Management L P increased its stake in shares of Nabors Industries by 246.1% in the second quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock valued at $32,844,000 after buying an additional 2,869,187 shares in the last quarter. Winch Advisory Services LLC increased its stake in shares of Nabors Industries by 35.1% in the second quarter. Winch Advisory Services LLC now owns 149,845 shares of the oil and gas company’s stock valued at $1,220,000 after buying an additional 38,948 shares in the last quarter. Cadence Capital Management LLC increased its stake in shares of Nabors Industries by 242.6% in the second quarter. Cadence Capital Management LLC now owns 35,638 shares of the oil and gas company’s stock valued at $290,000 after buying an additional 25,236 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Nabors Industries during the second quarter valued at about $7,324,000. Finally, Deprince Race & Zollo Inc. increased its stake in shares of Nabors Industries by 4.5% in the second quarter. Deprince Race & Zollo Inc. now owns 2,799,399 shares of the oil and gas company’s stock valued at $22,787,000 after buying an additional 121,327 shares in the last quarter. 98.65% of the stock is currently owned by institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

Receive News & Ratings for Nabors Industries Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.