Nabors Industries Ltd. (NYSE:NBR) has been given a $9.00 target price by Credit Suisse Group in a report released on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Credit Suisse Group’s target price points to a potential upside of 28.94% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Goldman Sachs Group, Inc. (The) lowered shares of Nabors Industries from a “conviction-buy” rating to a “buy” rating and boosted their target price for the stock from $17.50 to $18.00 in a research report on Friday, April 28th. Citigroup Inc. restated a “buy” rating on shares of Nabors Industries in a research report on Wednesday, May 10th. Deutsche Bank AG restated a “buy” rating and set a $13.00 target price (down from $20.00) on shares of Nabors Industries in a research report on Tuesday, May 30th. Royal Bank Of Canada restated a “buy” rating on shares of Nabors Industries in a research report on Tuesday, June 20th. Finally, UBS AG restated a “buy” rating and set a $11.00 target price (down from $17.00) on shares of Nabors Industries in a research report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.18.

Nabors Industries (NYSE NBR) opened at 6.98 on Thursday. The firm’s market capitalization is $1.95 billion. Nabors Industries has a 52-week low of $6.93 and a 52-week high of $18.40. The firm’s 50-day moving average is $7.69 and its 200-day moving average is $11.22.

Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by $0.03. The company had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. Nabors Industries’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. On average, analysts anticipate that Nabors Industries will post ($1.45) earnings per share for the current year.

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In related news, CFO William J. Restrepo acquired 22,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was bought at an average price of $8.25 per share, with a total value of $181,500.00. Following the purchase, the chief financial officer now directly owns 959,694 shares in the company, valued at approximately $7,917,475.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invictus RG bought a new position in Nabors Industries during the first quarter worth approximately $109,000. Aviance Capital Management LLC bought a new position in Nabors Industries during the first quarter worth approximately $143,000. Coconut Grove Bank increased its position in Nabors Industries by 47.1% in the first quarter. Coconut Grove Bank now owns 10,960 shares of the oil and gas company’s stock worth $143,000 after buying an additional 3,510 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its position in Nabors Industries by 92.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 11,262 shares of the oil and gas company’s stock worth $147,000 after buying an additional 5,401 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its position in Nabors Industries by 714.0% in the second quarter. Harbour Capital Advisors LLC now owns 11,396 shares of the oil and gas company’s stock worth $1,400,000 after buying an additional 9,996 shares in the last quarter. 98.65% of the stock is owned by institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

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