Nabors Industries Ltd. (NBR) : Traders are bullish on Nabors Industries Ltd. (NBR) as it has outperformed the S&P 500 by a wide margin of 8.37% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.09%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.06% in the last 1 week, and is up 8.79% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Nabors Industries Ltd. is up 26.01% in the last 3-month period. Year-to-Date the stock performance stands at 20.78%. The stock has recorded a 20-day Moving Average of 7.59% and the 50-Day Moving Average is 3.93%.
Nabors Industries Ltd. (NYSE:NBR): The stock opened at $10.24 on Friday but the bulls could not build on the opening and the stock topped out at $10.27 for the day. The stock traded down to $9.93 during the day, due to lack of any buying support eventually closed down at $10.15 with a loss of -1.55% for the day. The stock had closed at $10.31 on the previous day. The total traded volume was 5,655,300 shares.
Also, Jefferies maintains its view on Nabors Industries Ltd. (NYSE:NBR) according to the research report released by the firm to its investors. The shares have now been rated Hold by the stock experts at the ratings house. Jefferies raises the price target from $9 per share to $10 per share on Nabors Industries Ltd.. The rating by the firm was issued on August 8, 2016.
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.