Nabors Industries Ltd. (NYSE:NBR) shares rose 3.7% during mid-day trading on Friday . The stock traded as high as $114.49 and last traded at $114.49. Approximately 95 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 212,865 shares. The stock had previously closed at $110.39.
Separately, Morgan Stanley increased their target price on shares of Nabors Industries from $60.00 to $80.00 and gave the stock an “underweight” rating in a research note on Thursday, March 25th. Four research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company currently has an average rating of “Sell” and an average price target of $43.90.
The firm’s fifty day simple moving average is $95.34. The company has a debt-to-equity ratio of 2.57, a quick ratio of 1.80 and a current ratio of 2.11. The stock has a market cap of $977.73 million, a PE ratio of -1.41 and a beta of 3.60.
A number of institutional investors have recently made changes to their positions in NBR. KBC Group NV acquired a new position in shares of Nabors Industries in the 4th quarter valued at $66,000. Captrust Financial Advisors boosted its holdings in shares of Nabors Industries by 12,483.3% in the first quarter. Captrust Financial Advisors now owns 755 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 749 shares in the last quarter. Graves Light Private Wealth Management Inc. increased its stake in shares of Nabors Industries by 20,000.0% during the first quarter. Graves Light Private Wealth Management Inc. now owns 1,005 shares of the oil and gas company’s stock worth $94,000 after acquiring an additional 1,000 shares during the period. Schroder Investment Management Group purchased a new position in Nabors Industries during the fourth quarter worth about $152,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Nabors Industries in the fourth quarter valued at about $193,000. Institutional investors own 60.78% of the company’s stock.
About Nabors Industries (NYSE:NBR)
Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.
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