Nabors Industries (NYSE:NBR) received a $9.00 price target from research analysts at Cowen in a note issued to investors on Thursday. The firm currently has a “buy” rating on the oil and gas company’s stock. Cowen’s price objective suggests a potential upside of 9.89% from the company’s previous close.

Other research analysts have also issued reports about the stock. Bank of America dropped their price objective on shares of Nabors Industries from $8.50 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, November 8th. Jefferies Group raised shares of Nabors Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $6.19 to $9.00 in a research note on Wednesday, November 8th. Citigroup set a $10.00 price objective on shares of Nabors Industries and gave the company a “buy” rating in a research note on Thursday, October 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $9.00 price objective (down from $20.00) on shares of Nabors Industries in a research note on Tuesday, October 3rd. Finally, UBS Group dropped their price objective on shares of Nabors Industries from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $10.75.

Nabors Industries (NBR) opened at $8.19 on Thursday. The stock has a market cap of $2,340.00, a price-to-earnings ratio of -3.06 and a beta of 1.59. Nabors Industries has a 12 month low of $5.32 and a 12 month high of $17.92. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.09). The company had revenue of $662.50 million for the quarter, compared to the consensus estimate of $674.03 million. Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The firm’s revenue was up 27.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.55) earnings per share. analysts predict that Nabors Industries will post -1.63 EPS for the current year.

Several hedge funds have recently made changes to their positions in NBR. Prudential Financial Inc. raised its holdings in shares of Nabors Industries by 278.9% in the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock valued at $31,963,000 after purchasing an additional 2,915,370 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Nabors Industries by 101.4% in the third quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock valued at $37,751,000 after purchasing an additional 2,354,975 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Nabors Industries by 11.7% in the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after purchasing an additional 2,243,068 shares during the last quarter. FMR LLC raised its holdings in shares of Nabors Industries by 33.3% in the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock valued at $69,068,000 after purchasing an additional 2,118,198 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Nabors Industries by 47.5% in the third quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock valued at $32,637,000 after purchasing an additional 1,302,284 shares during the last quarter. Institutional investors own 87.63% of the company’s stock.

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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)

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