In a report released on February 8, Keith Mackey from RBC Capital maintained a Hold rating on Nabors Industries (NBR – Research Report), with a price target of $114.00. The company’s shares closed yesterday at $79.18.
Mackey covers the Energy sector, focusing on stocks such as Baker Hughes Company, Schlumberger, and Halliburton. According to TipRanks, Mackey has an average return of 21.0% and a 61.54% success rate on recommended stocks.
The word on The Street in general, suggests a Hold analyst consensus rating for Nabors Industries with a $110.00 average price target, a 38.92% upside from current levels. In a report released on February 8, Barclays also assigned a Hold rating to the stock with a $110.00 price target.
The company has a one-year high of $178.34 and a one-year low of $71.42. Currently, Nabors Industries has an average volume of 279.1K.
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Nabors Industries (NBR) Company Description:
Nabors Industries Ltd. engages in the provision of platform work over and drilling rigs. It operates through the following segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The U.S. Drilling segment includes land drilling activities in states and Alaska as well as offshore operations in the Gulf of Mexico. The Canada segment consists of land-based drilling rigs in Canada. The International segment focuses in maintaining a footprint in the oil and gas market, most notably in Saudi Arabia, Algeria, Argentina, Colombia, Kazakhstan, and Venezuela. The Drilling Solutions segment offers drilling technologies, such as patented steering systems and rig instrumentation software systems that enhance drilling performance and wellbore placement. The Rig Technologies segment comprises Canrig, which manufactures and sells top drives, catwalks, wrenches, drawworks, and drilling related equipment such as robotic systems and downhole tools. The company was founded by Clair Nabors in 1952 and is headquartered in Hamilton, Bermuda.
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