Nabors Industries Ltd. (NYSE:NBR) has been assigned a $10.00 target price by Citigroup Inc. in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Citigroup Inc.’s target price would indicate a potential upside of 25.16% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. ValuEngine cut Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Wells Fargo & Company cut Nabors Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, July 7th. Guggenheim raised Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, August 15th. Finally, Societe Generale assumed coverage on Nabors Industries in a research note on Thursday, August 31st. They issued a “hold” rating and a $7.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Nabors Industries currently has an average rating of “Buy” and a consensus price target of $12.60.

Shares of Nabors Industries (NYSE:NBR) traded up 2.30% during midday trading on Thursday, hitting $7.99. The stock had a trading volume of 6,296,146 shares. Nabors Industries has a 52-week low of $6.18 and a 52-week high of $18.40. The company’s 50 day moving average is $7.24 and its 200 day moving average is $8.96. The company’s market cap is $2.28 billion.

Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.03). The business had revenue of $630.50 million for 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%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) EPS. On average, analysts anticipate that Nabors Industries will post ($1.50) earnings per share for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Capstone Asset Management Co. lifted its holdings in shares of Nabors Industries by 0.9% during the 2nd quarter. Capstone Asset Management Co. now owns 23,571 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 220 shares during the last quarter. Wright Investors Service Inc. lifted its holdings in shares of Nabors Industries by 2.2% during 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 purchasing an additional 265 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Nabors Industries by 0.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 36,812 shares of the oil and gas company’s stock valued at $481,000 after purchasing an additional 317 shares during the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC lifted its holdings in shares of Nabors Industries by 3.3% during the 2nd 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 last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Nabors Industries by 2.0% during the 1st quarter. Teacher Retirement System of Texas now owns 22,836 shares of the oil and gas company’s stock valued at $298,000 after purchasing an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 95.71% 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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