Nabors Industries Ltd. (NBR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $7.83.

A number of equities analysts recently commented on NBR shares. Bank of America started coverage on shares of Nabors Industries in a research note on Wednesday, October 17th. They issued a “buy” rating for the company. BMO Capital Markets decreased their price objective on shares of Nabors Industries from $7.50 to $6.50 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Nabors Industries in a research note on Tuesday, November 6th. Piper Jaffray Companies set a $7.00 price objective on shares of Nabors Industries and gave the stock a “hold” rating in a research note on Thursday, November 8th. Finally, JPMorgan Chase & Co. lowered shares of Nabors Industries from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 11th.

Nabors Industries stock opened at $2.77 on Tuesday. The company has a current ratio of 2.05, a quick ratio of 1.82 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $987.51 million, a price-to-earnings ratio of -1.70 and a beta of 2.43. Nabors Industries has a 1 year low of $1.81 and a 1 year high of $8.86.

A number of institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board boosted its stake in shares of Nabors Industries by 15.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 514,800 shares of the oil and gas company’s stock valued at $3,171,000 after buying an additional 69,000 shares during the period. Virtu Financial LLC boosted its stake in shares of Nabors Industries by 48.7% during the 3rd quarter. Virtu Financial LLC now owns 123,720 shares of the oil and gas company’s stock valued at $762,000 after buying an additional 40,499 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Nabors Industries by 2,696.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 162,200 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 156,400 shares during the period. Point72 Hong Kong Ltd boosted its stake in shares of Nabors Industries by 91.3% during the 3rd quarter. Point72 Hong Kong Ltd now owns 41,132 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 19,635 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Nabors Industries by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 31,147,447 shares of the oil and gas company’s stock valued at $191,869,000 after buying an additional 246,670 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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Analyst Recommendations for Nabors Industries (NYSE:NBR)

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