Price Target Update on Nabors Industries Ltd. (NYSE:NBR)

Nabors Industries Ltd. (NYSE:NBR) : Average target price received by Nabors Industries Ltd. (NYSE:NBR) is $12.03 with an expected standard deviation of $2.64. The most aggressive target on the stock is $17, whereas the most downbeat target is $7. 15 financial analysts are currently covering the stock.

Other Equity analysts have also commented on the company shares. Credit Suisse downgrades its rating on Nabors Industries Ltd. (NYSE:NBR). The global brokerage major lowers the current price target from $10 per share to $9 per share. Analysts at the Credit Suisse have a current rating of Neutral on the shares. The shares were previously rated Outperform. The rating by the firm was issued on June 1, 2016.

Nabors Industries Ltd. (NYSE:NBR): stock turned positive on Thursday. Though the stock opened at $10.77, the bulls momentum made the stock top out at $10.86 level for the day. The stock recorded a low of $10.67 and closed the trading day at $10.79, in the green by 2.47%. The total traded volume for the day was 5,449,293. The stock had closed at $10.53 in the previous days trading.

The company shares have dropped -24.95% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $14.76 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $9.21 and the 200 Day Moving Average price is recorded at $8.42. On the companys insider trading activities, Wolf Howard, director of Nabors Industries Ltd had purchased 15,000 shares on April 28, 2016 in a transaction. The price per share was $9.78 and the total amount of the disclosed transaction was $146,700.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company provides of offshore platform work over and drilling rigs. Its business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services. It 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. It manufactures and leases or sells top drives and other rig equipment. Its Drilling & Rig Services business line consists of four operating segments: U.S., Canada, International and Rig Services. Its Completion & Production Services business line consists of its operations involved in the completion, life-of-well maintenance and plugging and abandonment of a well and consists of two operating segments: Completion Services and Production Services.

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