Nabors Industries Ltd. (NYSE:NBR) : 15 Wall Street analysts covering Nabors Industries Ltd. (NYSE:NBR) believe that the average level the stock could reach for the short term is $12.03. The maximum price target given is $17 and the minimum target for short term is around $7, hence the standard deviation is calculated at $2.64.
Nabors Industries Ltd. has dropped 6.86% in the last five trading days, however, the shares have posted positive gains of 11.67% in the last 4 weeks. Nabors Industries Ltd. is up 13.29% in the last 3-month period. Year-to-Date the stock performance stands at 19.59%. Also, Equity Analysts at the Brokerage Firm, Credit Suisse, downgrades their rating on the shares of Nabors Industries Ltd. (NYSE:NBR). Credit Suisse has a Neutral rating on the shares. Previously, the analysts had a Outperform rating on the shares. As per the latest research report, the brokerage house lowers the price target to $9 per share from a prior target of $10. The rating by the firm was issued on June 1, 2016.
Nabors Industries Ltd. (NYSE:NBR) : 18 analysts are covering Nabors Industries Ltd. (NYSE:NBR) and their average rating on the stock is 1.83, which is read as a Buy. 10 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Nabors Industries Ltd. (NYSE:NBR) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. 1 more analyst has given the stock a Sell recommendation. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Nabors Industries Ltd. (NYSE:NBR): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.69 and $9.58 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.07. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.05, notching a gain of 3.29% for the day. The total traded volume was 6,094,883 . The stock had closed at $9.73 on the previous day.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Nabors Industries Ltd, Wolf Howard, had purchased 15,000 shares in a transaction dated on April 28, 2016. The transaction was executed at $9.78 per share with total amount equaling $146,700.
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.