Evercore ISI analyst James West reiterated a Sell rating on Nabors Industries (NBR) yesterday and set a price target of $69.00. The company’s shares closed last Wednesday at $89.30.
According to TipRanks.com, West ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -22.9% and a 32.5% success rate. West covers the Industrial Goods sector, focusing on stocks such as Sunnova Energy International, Nextier Oilfield Solutions, and Precision Drilling.
Nabors Industries has an analyst consensus of Moderate Sell, with a price target consensus of $76.20.
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Nabors Industries’ market cap is currently $661.9M and has a P/E ratio of -1.00. The company has a Price to Book ratio of 0.59.
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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.
