Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “outperform” rating restated by equities research analysts at Sanford C. Bernstein in a research note issued on Wednesday. They presently have a $12.50 price target on the oil and gas company’s stock. Sanford C. Bernstein’s price target points to a potential upside of 91.72% from the stock’s current price.

Other analysts have also issued research reports about the company. Morgan Stanley dropped their price objective on Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Monday, August 7th. Evercore ISI restated an “outperform” rating and issued a $18.00 price objective on shares of Nabors Industries in a research note on Tuesday, June 20th. Guggenheim lowered Nabors Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 27th. BMO Capital Markets restated a “hold” rating and issued a $8.00 price objective (down previously from $13.00) on shares of Nabors Industries in a research note on Thursday, July 13th. Finally, Cowen and Company dropped their price objective on Nabors Industries from $13.00 to $10.50 and set an “outperform” rating on the stock in a research note on Tuesday, August 8th. 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. The stock currently has an average rating of “Buy” and an average target price of $13.42.

Nabors Industries (NYSE NBR) traded down 6.05% on Wednesday, reaching $6.52. The company had a trading volume of 8,683,863 shares. The company’s market capitalization is $1.86 billion. The company’s 50 day moving average price is $7.02 and its 200-day moving average price is $9.85. Nabors Industries has a 12 month low of $6.18 and a 12 month high of $18.40.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by $0.03. The business had revenue of $630.50 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. On average, equities analysts predict that Nabors Industries will post ($1.50) earnings per share for the current fiscal year.

WARNING: “Nabors Industries Ltd. (NBR) Stock Rating Reaffirmed by Sanford C. Bernstein” was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/09/10/nabors-industries-ltd-nbr-stock-rating-reaffirmed-by-sanford-c-bernstein.html.

Hedge funds have recently modified their holdings of the business. Bollard Group LLC boosted its holdings in shares of Nabors Industries by 1.2% in the 2nd quarter. Bollard Group LLC now owns 312,179 shares of the oil and gas company’s stock valued at $2,541,000 after purchasing an additional 3,816 shares in the last quarter. TFS Capital LLC acquired a new stake in shares of Nabors Industries in the 1st quarter valued at $647,000. KBC Group NV boosted its holdings in shares of Nabors Industries by 15.4% in the 1st quarter. KBC Group NV now owns 423,891 shares of the oil and gas company’s stock valued at $5,540,000 after purchasing an additional 56,564 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Nabors Industries by 73.5% in the 1st quarter. Wells Fargo & Company MN now owns 747,410 shares of the oil and gas company’s stock valued at $9,770,000 after purchasing an additional 316,556 shares in the last quarter. Finally, Paloma Partners Management Co boosted its holdings in shares of Nabors Industries by 117.2% in the 1st quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock valued at $901,000 after purchasing an additional 37,175 shares in the last quarter. 95.60% of the stock is currently owned by hedge funds and other institutional investors.

About Nabors Industries

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.