By otakuyassine3@gmail.com 
Nabors Industries Ltd. (NYSE:NBR – Get Free Report) saw a significant decrease in short interest in January. As of January 15th, there was short interest totalling 1,150,000 shares, a decrease of 18.4% from the December 31st total of 1,410,000 shares. Approximately 13.7% of the shares of the stock are short sold. Based on an average daily volume of 326,600 shares, the short-interest ratio is currently 3.5 days.
Nabors Industries Stock Down 3.1 %
Shares of NBR stock traded down $1.77 during trading hours on Monday, hitting $55.45. 252,955 shares of the company were exchanged, compared to its average volume of 255,317. The business has a 50 day moving average of $62.82 and a two-hundred day moving average of $71.82. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43. Nabors Industries has a 52 week low of $50.15 and a 52 week high of $105.96. The company has a market capitalization of $593.86 million, a PE ratio of -3.02 and a beta of 2.05.
Wall Street Analysts Forecast Growth
NBR has been the topic of a number of research reports. Citigroup upped their target price on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a report on Wednesday, October 16th. Evercore ISI cut their price objective on shares of Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a report on Thursday, October 24th. Barclays cut their price objective on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Finally, Susquehanna cut their price objective on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $97.00.
View Our Latest Analysis on NBR
Institutional Investors Weigh In On Nabors Industries
Several large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Nabors Industries by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after buying an additional 16,890 shares during the last quarter. Geode Capital Management LLC increased its holdings in Nabors Industries by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company’s stock valued at $13,286,000 after buying an additional 3,054 shares during the period. Van ECK Associates Corp increased its holdings in Nabors Industries by 41.0% in the 4th quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company’s stock valued at $11,580,000 after buying an additional 58,946 shares during the period. Barclays PLC increased its holdings in Nabors Industries by 60.8% in the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after buying an additional 42,483 shares during the period. Finally, FMR LLC increased its holdings in Nabors Industries by 10.6% in the 3rd quarter. FMR LLC now owns 51,794 shares of the oil and gas company’s stock valued at $3,339,000 after buying an additional 4,949 shares during the period. Institutional investors own 81.92% of the company’s stock.
Nabors Industries Company Profile
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.
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