Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “buy” rating reiterated by investment analysts at SunTrust Banks, Inc. in a research report issued on Tuesday. They currently have a $9.00 target price on the oil and gas company’s stock, down from their prior target price of $20.00. SunTrust Banks, Inc.’s price target would suggest a potential upside of 15.38% from the stock’s current price.

Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. ValuEngine lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Wells Fargo & Company lowered Nabors Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, July 7th. Guggenheim upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Tuesday, August 15th. Finally, Societe Generale initiated coverage on Nabors Industries in a research note on Thursday, August 31st. They issued a “hold” rating and a $7.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $12.77.

Shares of Nabors Industries (NBR) traded down 1.64% during trading on Tuesday, reaching $7.80. 6,644,340 shares of the company traded hands. The firm’s 50 day moving average price is $7.12 and its 200-day moving average price is $9.02. The company’s market capitalization is $2.23 billion. Nabors Industries has a 52 week low of $6.18 and a 52 week 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). 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 last year, the company earned ($0.35) earnings per share. Nabors Industries’s quarterly revenue was up 21.9% compared to the same quarter last year. Equities analysts anticipate that Nabors Industries will post ($1.50) EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the business. Wright Investors Service Inc. grew its holdings in Nabors Industries by 2.2% in the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 265 shares during the period. Frontier Wealth Management LLC grew its holdings 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 valued at $102,000 after purchasing an additional 1,284 shares during the period. Invictus RG purchased a new stake in Nabors Industries in the first quarter valued at approximately $109,000. Carlton Hofferkamp & Jenks Wealth Management LLC grew its holdings 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 valued at $110,000 after purchasing an additional 435 shares during the period. Finally, M&T Bank Corp grew its holdings 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 valued at $133,000 after purchasing an additional 925 shares during the period. 95.71% of the stock is currently owned by hedge funds and other 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)

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