Today’s Market Runner: What’s Next for Nabors Industries Ltd. After Making 52-Week High?

Today's Market Runner: What's Next for Nabors Industries Ltd. After Making 52 Week High?

The stock of Nabors Industries Ltd. (NYSE:NBR) hit a new 52-week high and has $19.18 target or 45.00% above today’s $13.23 share price. The 6 months bullish chart indicates low risk for the $3.88B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $19.18 price target is reached, the company will be worth $1.75 billion 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 738,735 shares traded hands. Nabors Industries Ltd. (NYSE:NBR) has risen 47.64% since March 16, 2016 and is uptrending. It has outperformed by 42.10% 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 $11.05 average target is -16.48% below today’s ($13.23) stock price. Nabors Industries Ltd. has been the topic of 53 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Monday, October 5 the stock rating was maintained by Citigroup with “Neutral”. The company was maintained on Friday, March 18 by Citigroup. The stock has “Overweight” rating given by CapitalOne on Monday, September 19. The stock has “Sector Perform” rating given by Howard Weil on Thursday, October 8. The firm has “Buy” rating given on Friday, December 11 by Citigroup. As per Wednesday, April 27, the company rating was upgraded by GMP Securities. The rating was upgraded by Raymond James to “Strong Buy” on Wednesday, April 27. Howard Weil maintained the shares of NBR in a report on Monday, November 2 with “Sector Perform” rating. Morgan Stanley maintained Nabors Industries Ltd. (NYSE:NBR) rating on Tuesday, April 19. Morgan Stanley has “Overweight” rating and $16.50 price target. The firm has “Outperform” rating given on Thursday, February 18 by Cowen & Co.

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 2016 Q2. Its down 0.10, from 0.99 in 2016Q1. The ratio is negative, 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.
Advisory Network Ltd Liability accumulated 700 shares or 0% of the stock. Timber Hill Lc holds 0.01% of its portfolio in Nabors Industries Ltd. (NYSE:NBR) for 135,722 shares. Analytic Invsts Ltd Liability Corporation reported 365,828 shares or 0.04% of all its holdings. Moreover, Cambridge Invest Rech Advisors has 0% invested in Nabors Industries Ltd. (NYSE:NBR) for 13,574 shares. Suntrust Banks Incorporated last reported 0.08% of its portfolio in the stock. The Massachusetts-based Bollard Group Incorporated has invested 0.18% in Nabors Industries Ltd. (NYSE:NBR). Jane Street Gru Limited Liability has 0% invested in the company for 15,995 shares. Moreover, Ellington Mgmt Gp Ltd Liability has 0.29% invested in Nabors Industries Ltd. (NYSE:NBR) for 20,600 shares. Teacher Retirement Systems Of Texas has 38,971 shares for 0% of their US portfolio. Nelson Van Denburg Campbell Wealth Mngmt Grp Lc holds 104 shares or 0% of its portfolio. Bluecrest Limited holds 0.33% or 802,495 shares in its portfolio. Whittier Of Nevada owns 3,290 shares or 0% of their US portfolio. Park Natl Corp Oh holds 0.01% of its portfolio in Nabors Industries Ltd. (NYSE:NBR) for 20,155 shares. Ci Invests holds 0.53% or 4.29 million shares in its portfolio. Deprince Race & Zollo reported 3.74 million shares or 0.76% of all its holdings.

Insider Transactions: Since April 28, 2016, the stock had 1 buy, and 0 insider sales for $146,769 net activity. The insider WOLF HOWARD bought 15,000 shares worth $146,769.

More news for Nabors Industries Ltd. (NYSE:NBR) were recently published by: Prnewswire.com, which released: “Nabors Industries Ltd. Third Quarter 2016 Earnings Conference Call Invitation” on September 29, 2016. Fool.com‘s article titled: “Better Buy: Helmerich & Payne, Inc. vs. Nabors Industries Ltd.” and published on July 18, 2016 is yet another important article.

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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