Shares of Nabors Industries Ltd. (NBR) Drops by -1.12%

Nabors Industries Ltd. (NBR) : During the past 4 weeks, traders have been relatively bearish on Nabors Industries Ltd. (NBR), hence the stock is down -10.72% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -2.58% relative to the S&P 500. The 4-week change in the price of the stock is -6.81% and the stock has fallen -1.12% in the past 1 week. The stock has recorded a 20-day Moving Average of 2.8% and the 50-Day Moving Average is 3.53%.

Nabors Industries Ltd. (NYSE:NBR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.74 and $9.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.89. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.71, notching a gain of 0.52% for the day. The total traded volume was 4,483,917 . The stock had closed at $9.66 on the previous day.


The company Insiders own 3.53% of Nabors Industries Ltd. shares according to the proxy statements. Institutional Investors own 92.62% of Nabors Industries Ltd. shares. In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Nabors Industries Ltd, Wolf Howard had purchased shares worth of $146,700 in a transaction dated on April 28, 2016. A total of 15,000 shares were purchased at a price of $9.78 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company provides of offshore platform work over and drilling rigs. Its business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services. It 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. It manufactures and leases or sells top drives and other rig equipment. Its Drilling & Rig Services business line consists of four operating segments: U.S., Canada, International and Rig Services. Its Completion & Production Services business line consists of its operations involved in the completion, life-of-well maintenance and plugging and abandonment of a well and consists of two operating segments: Completion Services and Production Services.

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