Nabors Industries (NYSE:NBR) Shares Down 4.8% – Should You Sell?

Nabors Industries Ltd. (NYSE:NBR) dropped 4.8% on Thursday . The company traded as low as $64.82 and last traded at $64.86. Approximately 65,555 shares traded hands during trading, a decline of 76% from the average daily volume of 272,760 shares. The stock had previously closed at $68.10.

Analyst Upgrades and Downgrades

NBR has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price target on shares of Nabors Industries in a report on Wednesday, October 16th. Barclays cut their price target on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Evercore ISI cut their price target on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research report on Thursday, October 24th. Susquehanna cut their price target on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup boosted their target price on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $97.00.

Nabors Industries Stock Performance

The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. The stock has a market capitalization of $713.78 million, a PE ratio of -3.62 and a beta of 2.05. The stock has a 50 day moving average of $65.90 and a two-hundred day moving average of $72.96.

Institutional Trading of Nabors Industries

A number of institutional investors have recently bought and sold shares of NBR. The Manufacturers Life Insurance Company increased its stake in Nabors Industries by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock valued at $254,000 after purchasing an additional 181 shares during the last quarter. Intech Investment Management LLC increased its stake in Nabors Industries by 6.4% in the third quarter. Intech Investment Management LLC now owns 5,372 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 322 shares during the last quarter. Signaturefd LLC increased its stake in Nabors Industries by 52.9% in the third quarter. Signaturefd LLC now owns 1,364 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 472 shares during the last quarter. Inspire Investing LLC increased its stake in Nabors Industries by 8.8% in the fourth quarter. Inspire Investing LLC now owns 6,942 shares of the oil and gas company’s stock valued at $397,000 after purchasing an additional 563 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Nabors Industries by 14.5% during the second quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock worth $338,000 after acquiring an additional 601 shares during the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

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.