RBC Capital analyst Kurt Hallead maintained a Hold rating on Nabors Industries (NBR) on November 4 and set a price target of $36.00. The company’s shares closed last Thursday at $33.36, close to its 52-week low of $9.79.
According to TipRanks.com, Hallead has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -19.0% and a 24.6% success rate. Hallead covers the Industrial Goods sector, focusing on stocks such as Independence Contract Drilling, Diamond Offshore Drilling, and Oceaneering International.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Nabors Industries with a $29.75 average price target.
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The company has a one-year high of $167.50 and a one-year low of $9.79. Currently, Nabors Industries has an average volume of 491.7K.
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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.
