Analysis: Nabors Industries Ltd (NYSE:NBR) Target Upped Today
In an interesting research report revealed by RBC Capital Markets on Friday, 18 December, the firm, Nabors Industries Ltd (NYSE:NBR), had their target price per share cut to $11.00. Analusts currently have a solid “Outperform” rating on the stock.
From a total of 23 analysts covering Nabors Industries Ltd. (NYSE:NBR) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $18 while the lowest target price is $8. The mean of all analyst targets is $12.7 with a 58.83% above today’s ($7.87) stock price. Nabors Industries Ltd. was the topic of 24 analyst reports since August 6, 2015 according to the firm StockzIntelligence Inc. Citigroup upgraded shares on December 11 to “Buy” rating. Citigroup maintained shares with “Neutral” rating and $10.50 target share price in a report from an October 5. Deutsche Bank maintained NBR stock in a recent report from November 2 with “Buy” rating. Credit Suisse maintained the rating on September 4. Credit Suisse has a “Neutral” rating and a $9 price target on shares. Finally, Argus Research maintained the stock with “Buy” rating in a report issued on a September 21.
The stock decreased 6.31% or $0.53 on December 18, striking $7.87. Approximately 10.44M shares of stock traded hands or 34.19% up from the average. Nabors Industries Ltd. (NYSE:NBR) has declined 45.74% since May 15, 2015 and is downtrending. It has underperformed by 41.93% the S&P500.
The overall sentiment of institutions has increased to 1.03 in Q2 2015. Its up 0.01, from 1.02 in 2015Q2. The ratio improved, as 56 institutions have sold all the shares of Nabors Industries Ltd. that they owned while 94 funds have taken shares off the table. 35 funds have purchased shares for the first time while 119 added to their positions. These institutions now hold 224.64 million shares or 8.58% less than the 245.72 million shares they owned in 2015Q2.
The Fund Whv Investments Inc. currently is holding shares equating to 5.05% of its total portfolio in Nabors Industries Ltd. representing a total of 14.04 million shares. Another fund,Lakeshore Capital Llc, is holding a total of 113,002 shares equating to 2.34% of their holdings. Additionally, Sasco Capital Inc Ct has a 11.00 million share stake in Nabors Industries Ltd. which represents 2.25% of their total portfolio. The Fund, Arosa Capital Management Lp, based out of New York, has also built up a stake in the stock, which represents a total of 2.02% of their total portfolio. Finally Staley Capital Advisers Inc, a fund which is based in the state of Pennsylvania reported a total holdings of 1.27 million shares.
Nabors Industries Ltd. owns and operates a land drilling rig fleet in North America. The company has a market cap of $2.89 billion. The Firm provides of offshore platform work over and drilling rigs. It currently has negative earnings. The Company’s business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services.
According to Zacks Investment Research, “Nabors Industries, Inc. is one of the largest land drilling contractors. Nabors conducts oil, gas and geothermal land drilling operations in the U.S. and internationally. Nabors also is one of the largest land well-servicing and workover contractors in the United States. To further supplement its primary business, it offers a number of ancillary well-site services, including oilfield management, engineering, transportation, construction, maintenance, well logging and other support services, in selected domestic and international markets.”