Nabors Industries (NYSE:NBR – Free Report) had its price target lowered by Evercore ISI from $94.00 to $85.00 in a research report report published on Thursday, Benzinga reports. Evercore ISI currently has an in-line rating on the oil and gas company’s stock.
NBR has been the topic of a number of other reports. Barclays cut their price target on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 target price on shares of Nabors Industries in a report on Wednesday, October 16th. Finally, Citigroup downgraded shares of Nabors Industries from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $75.00 in a research note on Friday, September 13th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and a consensus target price of $96.17.
Get Our Latest Stock Report on Nabors Industries
Nabors Industries Trading Up 2.9 %
Nabors Industries (NYSE:NBR – Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) EPS for the quarter, missing the consensus estimate of ($1.77) by ($2.52). Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The firm had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. During the same quarter in the prior year, the business earned ($2.26) earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Equities research analysts forecast that Nabors Industries will post -12.24 EPS for the current year.
Institutional Investors Weigh In On Nabors Industries
A number of large investors have recently modified their holdings of the company. Signaturefd LLC grew its stake in shares of Nabors Industries by 52.9% during 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. nVerses Capital LLC purchased a new stake in Nabors Industries during the 3rd quarter worth about $45,000. Inspire Investing LLC acquired a new position in shares of Nabors Industries during the 3rd quarter worth about $411,000. SG Americas Securities LLC increased its holdings in shares of Nabors Industries by 79.6% in the 3rd quarter. SG Americas Securities LLC now owns 4,017 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 1,780 shares during the last quarter. Finally, Creative Planning raised its position in shares of Nabors Industries by 62.3% during the 2nd quarter. Creative Planning now owns 8,756 shares of the oil and gas company’s stock worth $623,000 after acquiring an additional 3,360 shares in the last quarter. 81.92% 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 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.
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