Nabors Industries Ltd. (NYSE:NBR) has climbed 0.48% in the past week and advanced 28.64% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 1.69% and the outperformance has advanced to 27.47% for the last 4 weeks period.
Nabors Industries Ltd. (NYSE:NBR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $10.28 and $10.22 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.58. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.42, notching a gain of 3.27% for the day. The total traded volume was 8,950,592 . The stock had closed at $10.09 on the previous day.
The company shares have dropped -25.73% 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 $9.11 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.
Many analysts have stated their opinion 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. Currently the company Insiders own 3.81% of Nabors Industries Ltd. shares according to the proxy statements. Institutional Investors own 92.47% of Nabors Industries Ltd. shares.
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.