Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They currently have a $12.00 price objective on the oil and gas company’s stock, down from their previous price objective of $14.00. Royal Bank Of Canada’s price target would indicate a potential upside of 58.94% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Citigroup Inc. set a $10.00 price objective on Nabors Industries and gave the company a “buy” rating in a research report on Thursday. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $9.00 price objective (down from $20.00) on shares of Nabors Industries in a research report on Tuesday. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Nabors Industries in a research report on Thursday, September 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Nabors Industries in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. Nabors Industries has a consensus rating of “Buy” and an average price target of $12.24.

Shares of Nabors Industries (NBR) traded down 5.51% during trading on Friday, reaching $7.55. The company’s stock had a trading volume of 8,912,592 shares. The company’s 50 day moving average price is $7.24 and its 200 day moving average price is $8.96. The firm’s market cap is $2.16 billion. 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%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. On average, equities analysts predict that Nabors Industries will post ($1.50) earnings per share for the current year.

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A number of hedge funds have recently modified their holdings of NBR. Park National increased its stake in Nabors Industries by 30.0% in the 4th quarter. Park National now owns 41,159 shares of the oil and gas company’s stock worth $350,000 after buying an additional 9,491 shares in the last quarter. Janus Capital Management increased its stake in Nabors Industries by 3,119.7% in the 3rd quarter. Janus Capital Management now owns 900,400 shares of the oil and gas company’s stock worth $8,509,000 after buying an additional 872,435 shares in the last quarter. Creative Planning increased its stake in Nabors Industries by 29.7% in the 4th quarter. Creative Planning now owns 308,515 shares of the oil and gas company’s stock worth $2,625,000 after buying an additional 70,625 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Nabors Industries by 22.9% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 3,464,912 shares of the oil and gas company’s stock worth $29,486,000 after buying an additional 645,401 shares in the last quarter. Finally, Strs Ohio increased its stake in Nabors Industries by 23.1% in the 4th quarter. Strs Ohio now owns 2,712,000 shares of the oil and gas company’s stock worth $23,079,000 after buying an additional 509,000 shares in the last quarter. Institutional investors and hedge funds 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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