Barclays Issues Pessimistic Forecast for Nabors Industries (NYSE:NBR) Stock Price

Nabors Industries (NYSE:NBR) had its price target cut by equities research analysts at Barclays from $90.00 to $53.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas company’s stock. Barclays‘s target price would indicate a potential upside of 15.13% from the company’s previous close.

NBR has been the topic of several other reports. Citigroup boosted their target price on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Susquehanna lowered their price target on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI lowered their price target on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a report on Thursday, October 24th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.40.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $46.03 on Wednesday. The company’s fifty day moving average is $57.85 and its two-hundred day moving average is $68.43. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. Nabors Industries has a 12-month low of $43.79 and a 12-month high of $105.96. The company has a market cap of $441.93 million, a P/E ratio of -2.06 and a beta of 2.02.

Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. Equities analysts expect that Nabors Industries will post -5.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

Several institutional investors and hedge funds have recently modified their holdings of NBR. Public Employees Retirement System of Ohio bought a new stake in Nabors Industries in the fourth quarter worth $36,000. US Bancorp DE boosted its holdings in Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 505 shares in the last quarter. nVerses Capital LLC bought a new stake in Nabors Industries in the third quarter worth $45,000. R Squared Ltd bought a new stake in Nabors Industries in the fourth quarter worth $70,000. Finally, Signaturefd LLC boosted its holdings in Nabors Industries by 52.9% in the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 472 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

About Nabors Industries

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.