Live Price Coverage: Is Buying 52-Week Stock Like Nabors Industries Ltd. a Winning Strategy?

Live Price Coverage: Is Buying 52 Week Stock Like Nabors Industries Ltd. a Winning Strategy?

The stock of Nabors Industries Ltd. (NYSE:NBR) hit a new 52-week high and has $20.73 target or 59.00% above today’s $13.04 share price. The 7 months bullish chart indicates low risk for the $3.66 billion company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $20.73 price target is reached, the company will be worth $2.16B 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 1.39 million shares traded hands. Nabors Industries Ltd. (NYSE:NBR) has risen 46.51% since March 7, 2016 and is uptrending. It has outperformed by 38.92% 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. Nabors Industries Ltd. has been the topic of 53 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Nabors Industries Ltd. (NYSE:NBR) earned “Neutral” rating by Credit Suisse on Wednesday, June 1. The stock of Nabors Industries Ltd. (NYSE:NBR) has “Neutral” rating given on Friday, September 4 by Credit Suisse. The company was maintained on Friday, March 18 by Citigroup. The firm has “Outperform” rating given on Wednesday, April 27 by Cowen & Co. The rating was maintained by Citigroup on Monday, October 5 with “Neutral”. The firm earned “Sector Perform” rating on Monday, November 2 by Howard Weil. The rating was maintained by Argus Research on Monday, September 21 with “Buy”. The stock of Nabors Industries Ltd. (NYSE:NBR) has “Overweight” rating given on Tuesday, April 19 by Morgan Stanley. On Wednesday, October 5 the stock rating was maintained by Citigroup with “Buy”. Howard Weil upgraded the stock to “Sector Outperform” rating in Monday, March 28 report.

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 fall, 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.
Bnp Paribas Investment accumulated 18,330 shares or 0% of the stock. Ameriprise Financial holds 1.80M shares or 0.01% of its portfolio. Comerica Financial Bank reported 504,384 shares or 0.04% of all its holdings. Oxford Asset Management reported 198,043 shares or 0.08% of all its holdings. California State Teachers Retirement Sys has invested 0.01% of its portfolio in Nabors Industries Ltd. (NYSE:NBR). Aviva Public Ltd holds 40,000 shares or 0% of its portfolio. Deprince Race And Zollo Incorporated owns 3.74 million shares or 0.76% of their US portfolio. Guggenheim Cap Ltd Liability Corp has 271,159 shares for 0.01% of their US portfolio. Federated Inc Pa accumulated 259,896 shares or 0.01% of the stock. Gemmer Asset Ltd Llc owns 806 shares or 0% of their US portfolio. Bogle Mngmt Limited Partnership De has invested 0.63% of its portfolio in Nabors Industries Ltd. (NYSE:NBR). Moreover, Goldman Sachs Gp has 0.01% invested in Nabors Industries Ltd. (NYSE:NBR) for 2.27M shares. Jpmorgan Chase And Co holds 0.01% of its portfolio in Nabors Industries Ltd. (NYSE:NBR) for 2.81 million shares. Geode Capital Mngmt Ltd Company holds 1.83M shares or 0.01% of its portfolio. Raymond James & Associate last reported 0% of its portfolio in the stock.

Insider Transactions: Since April 28, 2016, the stock had 1 buy, and 0 insider sales 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.”, Prnewswire.com published: “Nabors Industries Ltd. Fourth Quarter 2015 Earnings Conference Call Invitation” on February 02, 2016. More interesting news about Nabors Industries Ltd. (NYSE:NBR) was released by: Wsj.com and their article: “Nabors Industries Swings to Loss” with publication date: April 25, 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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