Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “neutral” rating reaffirmed by Jefferies Group LLC in a note issued to investors on Thursday.

NBR has been the topic of a number of other research reports. Deutsche Bank AG reiterated a “buy” rating and set a $13.00 price target (down previously from $20.00) on shares of Nabors Industries in a research note on Tuesday, May 30th. Citigroup Inc. reiterated a “buy” rating on shares of Nabors Industries in a research note on Wednesday, May 10th. Wells Fargo & Company downgraded shares of Nabors Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, July 7th. ValuEngine downgraded shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Guggenheim upgraded shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Tuesday, August 15th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $13.42.

Shares of Nabors Industries (NYSE:NBR) traded down 2.758% during mid-day trading on Thursday, hitting $6.875. 3,326,718 shares of the company’s stock were exchanged. The company’s market capitalization is $1.96 billion. Nabors Industries has a 52 week low of $6.18 and a 52 week high of $18.40. The firm has a 50 day moving average price of $7.09 and a 200-day moving average price of $9.90.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by $0.03. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The business had revenue of $630.50 million for the quarter, compared to analyst estimates of $589.79 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities analysts anticipate that Nabors Industries will post ($1.50) EPS for the current year.

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A number of hedge funds have recently made changes to their positions in NBR. Wright Investors Service Inc. increased its position in Nabors Industries by 2.2% in the second quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 265 shares during the period. Frontier Wealth Management LLC increased its position in Nabors Industries by 11.4% in the second quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 1,284 shares during the period. Invictus RG acquired a new stake in Nabors Industries in the first quarter worth about $109,000. Carlton Hofferkamp & Jenks Wealth Management LLC increased its position in Nabors Industries by 3.3% in the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,550 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 435 shares during the period. Finally, M&T Bank Corp increased its position in Nabors Industries by 6.0% in the second quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock worth $133,000 after purchasing an additional 925 shares during the period. Hedge funds and other institutional investors own 95.60% of the company’s stock.

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)

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