Nabors Industries (NYSE:NBR) Price Target Raised to $80.00 at Citigroup

Nabors Industries (NYSE:NBR) had its price objective hoisted by research analysts at Citigroup from $75.00 to $80.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price objective indicates a potential upside of 7.51% from the company’s previous close.

Several other research analysts have also recently commented on NBR. Evercore ISI reduced their price target on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a research report on Wednesday, October 16th. Susquehanna cut their price objective on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Finally, Barclays cut their price objective on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.00.

Nabors Industries Stock Down 0.3 %

Shares of NBR stock traded down $0.24 on Thursday, hitting $74.41. 210,441 shares of the stock were exchanged, compared to its average volume of 280,775. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 5.01. The firm has a market capitalization of $710.54 million, a P/E ratio of -4.05 and a beta of 2.11. The business has a 50-day moving average of $72.12 and a 200 day moving average of $74.86. Nabors Industries has a fifty-two week low of $59.67 and a fifty-two week high of $105.96.

Hedge Funds Weigh In On Nabors Industries

Large investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Nabors Industries during the third quarter worth approximately $45,000. Russell Investments Group Ltd. increased its stake in Nabors Industries by 2,022.2% during the 1st quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 728 shares during the period. Signaturefd LLC increased its stake in Nabors Industries by 52.9% during the 3rd quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 472 shares during the period. SG Americas Securities LLC bought a new position in Nabors Industries during the 2nd quarter worth $159,000. Finally, The Manufacturers Life Insurance Company increased its stake in Nabors Industries by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after acquiring an additional 181 shares during the period. Institutional investors own 81.92% of the company’s stock.

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.