November 29, 2016 - By Dolores Ford
In a a report revealed to clients and investors on Tuesday morning, Tudor Pickering upped shares of Nabors Industries Ltd (NYSE:NBR) to a Buy rating from Hold rating.
Out of 18 analysts covering Nabors Industries Ltd. (NYSE:NBR), 15 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 83% are positive. $17 is the highest target while $7 is the lowest. The $11.24 average target is -14.65% below today’s ($13.17) stock price. Nabors Industries Ltd. has been the topic of 54 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The firm earned “Buy” rating on Thursday, September 15 by DA Davidson. Citigroup maintained Nabors Industries Ltd. (NYSE:NBR) rating on Friday, March 18. Citigroup has “Buy” rating and $11 price target. The firm has “Sector Outperform” rating by Howard Weil given on Monday, March 28. The rating was maintained by Citigroup on Monday, October 5 with “Neutral”. The firm has “Positive” rating given on Wednesday, March 9 by Susquehanna. Cowen & Co maintained Nabors Industries Ltd. (NYSE:NBR) rating on Thursday, February 18. Cowen & Co has “Outperform” rating and $8.75 price target. The rating was downgraded by Credit Suisse to “Neutral” on Wednesday, June 1. The firm has “Hold” rating by Jefferies given on Tuesday, January 12. The company was downgraded on Thursday, October 8 by Howard Weil. Howard Weil maintained it with “Sector Outperform” rating and $17 target price in Tuesday, November 15 report.
The stock decreased 2.44% or $0.33 during the last trading session, hitting $13.17. About 7.45 million shares traded hands or 12.88% up from the average. Nabors Industries Ltd. (NYSE:NBR) has risen 44.39% since April 26, 2016 and is uptrending. It has outperformed by 39.13% 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.
Insitutional Activity: The institutional sentiment increased to 1.26 in Q2 2016. Its up 0.37, from 0.89 in 2016Q1. The ratio improved, 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.
Bluecrest Capital Management Ltd has 0.33% invested in the company for 802,495 shares. Brown Advisory accumulated 16,030 shares or 0% of the stock. Sir Capital Mngmt Lp has invested 4.63% of its portfolio in Nabors Industries Ltd. (NYSE:NBR). Pinebridge Investments Ltd Partnership owns 2,300 shares or 0% of their US portfolio. Advisory Service Net Limited Liability holds 700 shares or 0% of its portfolio. Alliancebernstein Lp accumulated 203,506 shares or 0% of the stock. Ubs Asset Mngmt Americas Inc holds 462,880 shares or 0.01% of its portfolio. Canada Pension Plan Invest Board owns 384,953 shares or 0.02% of their US portfolio. State Of Tennessee Treasury Department last reported 260,000 shares in the company. Commonwealth Comml Bank Of Australia holds 0.01% or 88,669 shares in its portfolio. Deutsche Comml Bank Ag owns 1.67 million shares or 0.01% of their US portfolio. Brick Kyle Assocs owns 55 shares or 0% of their US portfolio. Ci Inc has 4.29M shares for 0.53% of their US portfolio. Thrivent Fincl For Lutherans, a Minnesota-based fund reported 895,380 shares. Putnam Invests Limited Liability Company accumulated 0.03% or 1.21M shares.
Nabors Industries Ltd. owns and operates a land drilling rig fleet in North America. The company has a market cap of $3.53 billion. The Firm is a well-known provider of offshore platform work over and drilling rigs. It currently has negative earnings. It conducts its Drilling & Rig Services business through four divisions: U.S.
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.”
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.
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.
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By Dolores Ford