Citigroup Maintains Nabors Industries Ltd. to Buy with Price Target $13.00

Brokerage firm Citigroup Maintains its rating on Nabors Industries Ltd.(NYSE:NBR). In a research note issued to the investors, the brokerage major Raises the price-target to $13.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Sep 12, 2016.

In a different note, On Aug 8, 2016, Jefferies said it Maintains its rating on Nabors Industries Ltd.. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Hold’ by the firm. On Jul 12, 2016, Stephens & Co. said it Upgrades its rating on Nabors Industries Ltd.. The shares have been rated ‘Overweight’ by the firm.

Nabors Industries Ltd. (NBR) made into the market gainers list on Tuesdays trading session with the shares advancing 0.31% or 0.03 points. Due to strong positive momentum, the stock ended at $9.68, which is also near the day’s high of $9.86. The stock began the session at $9.62 and the volume stood at 73,37,387 shares. The 52-week high of the shares is $12.33 and the 52 week low is $4.93. The company has a current market capitalization of $2,743 M and it has 28,33,78,310 shares in outstanding.

Nabors Industries Ltd.(NBR) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $571.59M. Analysts had an estimated revenue of $498.25M. Earnings per share were $-0.26. Analysts had estimated an EPS of $-0.46.

Several Insider Transactions has been reported to the SEC. On May 2, 2016, Howard Wolf (director) purchased 15,000 shares at $9.78 per share price.Also, On Dec 11, 2015, James R Crane (director) purchased 149 shares at $15.56 per share price.

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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