The stock of Nabors Industries Ltd. (NYSE:NBR) hit a new 52-week high and has $15.70 target or 4.00% above today’s $15.10 share price. The 5 months bullish chart indicates low risk for the $4.18 billion company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $15.70 price target is reached, the company will be worth $167.20 million 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 4.31M shares traded hands. Nabors Industries Ltd. (NYSE:NBR) has risen 33.98% since April 27, 2016 and is uptrending. It has outperformed by 28.75% the S&P500.
Analysts await Nabors Industries Ltd. (NYSE:NBR) to report earnings on February, 21. They expect $-0.33 earnings per share, down 50.00% or $0.11 from last year’s $-0.22 per share. After $-0.35 actual earnings per share reported by Nabors Industries Ltd. for the previous quarter, Wall Street now forecasts -5.71% EPS growth.
Nabors Industries Ltd. (NYSE:NBR) Ratings Coverage
Out of 19 analysts covering Nabors Industries Ltd. (NYSE:NBR), 16 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 84% are positive. $17 is the highest target while $7 is the lowest. The $11.24 average target is -25.56% below today’s ($15.1) stock price. Nabors Industries Ltd. has been the topic of 55 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Credit Suisse downgraded Nabors Industries Ltd. (NYSE:NBR) on Wednesday, June 1 to “Neutral” rating. The stock of Nabors Industries Ltd. (NYSE:NBR) earned “Buy” rating by Citigroup on Friday, March 18. The firm earned “Overweight” rating on Tuesday, April 19 by Morgan Stanley. The company was upgraded on Tuesday, January 12 by Jefferies. The rating was maintained by Citigroup with “Buy” on Wednesday, October 5. The stock has “Buy” rating given by Guggenheim on Monday, November 30. Raymond James upgraded the shares of NBR in a report on Wednesday, April 27 to “Strong Buy” rating. CapitalOne upgraded the stock to “Overweight” rating in Monday, September 19 report. The rating was maintained by Cowen & Co with “Outperform” on Thursday, February 18. The firm has “Buy” rating by Citigroup given on Friday, December 11.
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 increased to 1.26 in Q2 2016. Its up 0.37, from 0.89 in 2016Q1. The ratio increased, 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.
Moreover, Renaissance Technologies Ltd Llc has 0.05% invested in Nabors Industries Ltd. (NYSE:NBR) for 2.84 million shares. Blackrock Inc accumulated 0% or 193,480 shares. Susquehanna Intl Group Inc Limited Liability Partnership holds 0% or 162,445 shares in its portfolio. Tortoise Advsr Limited Liability Com, a Kansas-based fund reported 131 shares. Park National Corporation Oh last reported 0.01% of its portfolio in the stock. Mackenzie Finance, a Ontario – Canada-based fund reported 315,179 shares. The Illinois-based Castleark Management Limited Company has invested 0.01% in Nabors Industries Ltd. (NYSE:NBR). Spot Trading Ltd Liability Corp last reported 0% of its portfolio in the stock. Babson Limited Company, a Massachusetts-based fund reported 23,400 shares. New York State Teachers Retirement System accumulated 462,001 shares or 0.01% of the stock. Oppenheimer last reported 0% of its portfolio in the stock. National Bank Of New York Mellon Corp owns 3.15M shares or 0.01% of their US portfolio. State Of Wisconsin Investment Board has 179,469 shares for 0.01% of their US portfolio. Bogle Limited Partnership De last reported 904,493 shares in the company. Ameritas Investment Ptnrs Inc last reported 0.03% of its portfolio in the stock.
Another recent and important Nabors Industries Ltd. (NYSE:NBR) news was published by Fool.com which published an article titled: “Better Buy: Helmerich & Payne, Inc. vs. Nabors Industries Ltd.” on July 18, 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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