Nabors Industries (NBR) Receives a Hold from Barclays


In a report released yesterday, David Anderson from Barclays maintained a Hold rating on Nabors Industries (NBR), with a price target of $35.00. The company’s shares closed last Tuesday at $36.33.

According to TipRanks.com, Anderson is ranked 0 out of 5 stars with an average return of -8.3% and a 35.9% success rate. Anderson covers the Industrial Goods sector, focusing on stocks such as Liberty Oilfield Services, FTS International, and Helmerich & Payne.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Nabors Industries with a $31.50 average price target, representing a -22.2% downside. In a report issued on November 4, RBC Capital also maintained a Hold rating on the stock with a $36.00 price target.

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Based on Nabors Industries’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $438 million and GAAP net loss of $157 million. In comparison, last year the company earned revenue of $758 million and had a GAAP net loss of $119 million.

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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.

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