Research analysts at Societe Generale began coverage on shares of Nabors Industries Ltd. (NYSE:NBR) in a research report issued on Thursday. The firm set a “hold” rating on the oil and gas company’s stock.

Several other equities analysts have also recently issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $13.00 price objective (down from $20.00) on shares of Nabors Industries in a report on Tuesday, May 30th. Citigroup Inc. reaffirmed a “buy” rating on shares of Nabors Industries in a report on Wednesday, May 10th. Wells Fargo & Company cut Nabors Industries from an “outperform” rating to a “market perform” rating in a report on Friday, July 7th. Guggenheim raised Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, August 15th. Finally, Zacks Investment Research cut Nabors Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $14.00.

Shares of Nabors Industries (NYSE NBR) opened at 6.47 on Thursday. The company has a 50-day moving average of $7.26 and a 200 day moving average of $10.42. Nabors Industries has a 12-month low of $6.18 and a 12-month high of $18.40. The stock’s market capitalization is $1.85 billion.

Nabors Industries (NYSE:NBR) last posted its quarterly 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 business had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) earnings per share. Analysts predict that Nabors Industries will post ($1.49) earnings per share for the current year.

WARNING: “Societe Generale Initiates Coverage on Nabors Industries Ltd. (NBR)” was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was copied illegally and republished in violation of US & international copyright & trademark law. The correct version of this piece can be accessed at https://www.watchlistnews.com/societe-generale-initiates-coverage-on-nabors-industries-ltd-nbr/1533713.html.

Large investors have recently made changes to their positions in the stock. Invictus RG acquired a new stake in shares of Nabors Industries during the first quarter worth approximately $109,000. Aviance Capital Management LLC acquired a new stake in shares of Nabors Industries during the first quarter worth approximately $143,000. Point72 Asia Hong Kong Ltd increased its stake in shares of 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. Harbour Capital Advisors LLC increased its stake in shares of 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. Finally, Venturi Wealth Management LLC increased its stake in shares of Nabors Industries by 2.7% in the first quarter. Venturi Wealth Management LLC now owns 12,260 shares of the oil and gas company’s stock worth $154,000 after buying an additional 320 shares in the last quarter. 95.60% of the stock is owned by institutional investors and hedge funds.

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)

Receive News & Ratings for Nabors Industries Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.