Morgan Stanley Cuts Nabors Industries (NYSE:NBR) Price Target to $75.00

Nabors Industries (NYSE:NBR) had its price objective decreased by Morgan Stanley from $115.00 to $75.00 in a research note published on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the oil and gas company’s stock.

NBR has been the topic of a number of other research reports. Barclays dropped their target price on shares of Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Susquehanna cut their price objective on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Nabors Industries has a consensus rating of “Hold” and an average price target of $73.33.

Nabors Industries Trading Down 3.1 %

Shares of NYSE NBR opened at $41.70 on Thursday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The firm has a 50-day moving average of $48.47 and a 200 day moving average of $61.81. Nabors Industries has a 1 year low of $34.42 and a 1 year high of $105.96. The stock has a market cap of $400.45 million, a P/E ratio of -1.86 and a beta of 2.08.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share 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%. As a group, sell-side analysts expect that Nabors Industries will post -6.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Nabors Industries

Several institutional investors have recently bought and sold shares of the business. Intech Investment Management LLC lifted its holdings in shares of Nabors Industries by 6.4% in the 3rd quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after acquiring an additional 322 shares during the last quarter. FMR LLC lifted its position in Nabors Industries by 10.6% in the third quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock worth $3,339,000 after buying an additional 4,949 shares during the last quarter. PDT Partners LLC boosted its stake in Nabors Industries by 49.7% during the third quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company’s stock worth $3,008,000 after buying an additional 15,494 shares during the period. Atom Investors LP purchased a new position in Nabors Industries during the third quarter worth $332,000. Finally, Centiva Capital LP bought a new stake in shares of Nabors Industries in the 3rd quarter worth about $531,000. Institutional investors own 81.92% of the company’s stock.

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.