Analysts at Stephens assumed coverage on shares of Nabors Industries (NYSE:NBR) in a research note issued to investors on Tuesday, The Fly reports. The firm set an “equal weight” rating on the oil and gas company’s stock.
NBR has been the topic of several other reports. Citigroup set a $10.00 target price on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, October 5th. SunTrust Banks reiterated a “buy” rating and set a $9.00 target price (down from $20.00) on shares of Nabors Industries in a report on Tuesday, October 3rd. Deutsche Bank initiated coverage on shares of Nabors Industries in a report on Tuesday, October 10th. They issued a “hold” rating and a $9.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target (down from $14.00) on shares of Nabors Industries in a report on Friday, October 6th. Finally, Cowen set a $11.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a report on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. Nabors Industries has an average rating of “Buy” and an average price target of $10.88.
Shares of Nabors Industries (NBR) traded up $0.29 during trading hours on Tuesday, hitting $7.47. 17,113,699 shares of the company were exchanged, compared to its average volume of 12,675,740. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35. Nabors Industries has a 12-month low of $5.32 and a 12-month high of $18.38. The company has a market capitalization of $2,120.00, a price-to-earnings ratio of -2.79 and a beta of 1.59.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brave Asset Management Inc. purchased a new stake in shares of Nabors Industries during the third quarter worth approximately $101,000. Frontier Wealth Management LLC boosted 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 in the last quarter. Cetera Advisors LLC acquired a new position in Nabors Industries in the third quarter valued at approximately $115,000. Clear Harbor Asset Management LLC acquired a new position in Nabors Industries in the third quarter valued at approximately $121,000. Finally, M&T Bank Corp boosted 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 in the last quarter. Hedge funds and other institutional investors own 87.63% of the company’s stock.
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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.
