Nabors Industries (NYSE:NBR) Given Hold Rating at Benchmark

Nabors Industries (NYSE:NBR)‘s stock had its “hold” rating restated by analysts at Benchmark in a report released on Thursday, Benzinga reports.

A number of other analysts have also weighed in on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Nabors Industries in a research note on Monday, April 8th. Morgan Stanley dropped their target price on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Nabors Industries currently has a consensus rating of “Hold” and a consensus target price of $129.60.

Nabors Industries Stock Performance

Nabors Industries stock traded down $4.64 during midday trading on Thursday, reaching $75.49. 150,874 shares of the stock traded hands, compared to its average volume of 246,341. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 4.63. The firm has a fifty day moving average price of $83.43 and a two-hundred day moving average price of $87.61. The firm has a market cap of $714.89 million, a price-to-earnings ratio of -14.59 and a beta of 2.33. Nabors Industries has a fifty-two week low of $71.42 and a fifty-two week high of $141.47.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92). The company had revenue of $743.91 million during the quarter, compared to analyst estimates of $730.59 million. Nabors Industries had a negative return on equity of 17.50% and a negative net margin of 0.66%. On average, equities research analysts forecast that Nabors Industries will post -5.56 earnings per share for the current year.

Institutional Trading of Nabors Industries

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its position in Nabors Industries by 111.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock worth $32,415,000 after acquiring an additional 209,450 shares in the last quarter. Gendell Jeffrey L boosted its holdings in shares of Nabors Industries by 3.2% during the 4th quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company’s stock worth $32,350,000 after buying an additional 12,119 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Nabors Industries by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock worth $24,102,000 after buying an additional 13,324 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Nabors Industries by 6.7% during the 4th quarter. Van ECK Associates Corp now owns 214,415 shares of the oil and gas company’s stock worth $17,503,000 after buying an additional 13,552 shares during the period. Finally, Apollo Management Holdings L.P. bought a new stake in shares of Nabors Industries during the 4th quarter worth $16,620,000. 81.92% of the stock is owned by institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.