The stock of Nabors Industries Ltd. (NYSE:NBR) hit a new 52-week high and has $15.17 target or 24.00% above today’s $12.23 share price. The 6 months bullish chart indicates low risk for the $3.63B company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $15.17 price target is reached, the company will be worth $871.20M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.94 million shares traded hands. Nabors Industries Ltd. (NYSE:NBR) has risen 61.64% since February 26, 2016 and is uptrending. It has outperformed by 51.22% the S&P500.
Analysts await Nabors Industries Ltd. (NYSE:NBR) to report earnings on October, 25. They expect $-0.36 earnings per share, down 157.14% or $0.22 from last year’s $-0.14 per share. After $-0.26 actual earnings per share reported by Nabors Industries Ltd. for the previous quarter, Wall Street now forecasts 38.46% negative EPS growth.
Nabors Industries Ltd. (NYSE:NBR) Ratings Coverage
Out of 18 analysts covering Nabors Industries Ltd. (NYSE:NBR), 15 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 83% are positive. $17 is the highest target while $7 is the lowest. The $10.90 average target is -10.87% below today’s ($12.23) stock price. Nabors Industries Ltd. has been the topic of 52 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Monday, September 21 the stock rating was maintained by Argus Research with “Buy”. Credit Suisse maintained the stock with “Neutral” rating in Friday, September 4 report. The firm earned “Market Perform” rating on Monday, August 10 by BMO Capital Markets. As per Monday, November 30, the company rating was upgraded by Guggenheim. The rating was maintained by Deutsche Bank with “Buy” on Monday, November 2. The firm earned “Neutral” rating on Wednesday, June 1 by Credit Suisse. The stock has “Sector Perform” rating given by Howard Weil on Monday, November 2. The firm earned “Strong Buy” rating on Wednesday, April 27 by Raymond James. GMP Securities upgraded Nabors Industries Ltd. (NYSE:NBR) on Wednesday, April 27 to “Buy” rating. On Friday, December 11 the stock rating was upgraded by Citigroup to “Buy”.
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.”
Insitutional Activity: The institutional sentiment decreased to 0.89 in Q2 2016. Its down 0.10, from 0.99 in 2016Q1. The ratio dropped, as 28 funds sold all Nabors Industries Ltd. shares owned while 106 reduced positions. 34 funds bought stakes while 85 increased positions. They now own 259.64 million shares or 0.48% more from 258.40 million shares in 2016Q1.
Raymond James Serv Advisors Incorporated last reported 0% of its portfolio in the stock. Moreover, Allianz Asset Mngmt Ag has 0% invested in Nabors Industries Ltd. (NYSE:NBR) for 267,547 shares. Engineers Gate Manager Ltd Partnership holds 0.49% of its portfolio in Nabors Industries Ltd. (NYSE:NBR) for 674,869 shares. Raymond James Associates reported 46,832 shares or 0% of all its holdings. Regions Financial holds 0% of its portfolio in Nabors Industries Ltd. (NYSE:NBR) for 10,700 shares. Glenmede Na owns 190,317 shares or 0.01% of their US portfolio. Pnc has 0% invested in the company for 117,869 shares. World Asset Mngmt has 0.01% invested in the company for 19,609 shares. Legal And General Gp Public Limited reported 430,219 shares or 0% of all its holdings. Jfs Wealth Advsrs holds 0% of its portfolio in Nabors Industries Ltd. (NYSE:NBR) for 366 shares. Creative Planning last reported 334,211 shares in the company. Blackrock Investment Mngmt Limited Liability owns 835,636 shares or 0.01% of their US portfolio. Sasco Cap Inc Ct accumulated 5.28 million shares or 1.33% of the stock. Moreover, Commonwealth Equity Svcs has 0% invested in Nabors Industries Ltd. (NYSE:NBR) for 36,313 shares. Assetmark Incorporated, a California-based fund reported 3,202 shares.
Insider Transactions: Since April 28, 2016, the stock had 1 insider buy, and 0 selling transactions for $146,769 net activity. On Thursday, April 28 WOLF HOWARD bought $146,769 worth of the stock or 15,000 shares.
More important recent Nabors Industries Ltd. (NYSE:NBR) news were published by: Prnewswire.com which released: “Nabors Industries Ltd. Third Quarter 2016 Earnings Conference Call Invitation” on September 29, 2016, also Fool.com published article titled: “Better Buy: Helmerich & Payne, Inc. vs. Nabors Industries Ltd.”, Wsj.com published: “Nabors Industries Swings to Loss” on April 25, 2016. More interesting news about Nabors Industries Ltd. (NYSE:NBR) was released by: Prnewswire.com and their article: “Nabors Industries Ltd. First Quarter 2016 Earnings Conference Call Invitation” with publication date: April 01, 2016.
NBR Company Profile
Nabors Industries Ltd., incorporated on December 11, 2001, owns and operates a land drilling rig fleet in North America. The Firm is a well-known provider of offshore platform work over and drilling rigs in the United States and multiple international markets. The Firm conducts its Drilling & Rig Services business through four divisions: U.S. Drilling, Canada Drilling, International Drilling and Rig Services. The Company’s fleet of rigs and drilling-related equipment includes approximately 430 actively marketed rigs for land drilling activities in the United States, Canada and over 20 other countries throughout the world, and approximately 40 actively marketed rigs for offshore drilling activities in the United States and multiple international markets. The Firm provides drilling technology and equipment, and well-site services, including engineering, transportation and disposal, construction, maintenance, well logging, directional drilling, rig instrumentation, data collection and other support services. In addition, the Company makes and leases or sells top drives and other rig equipment.
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