Nabors Industries (NBR) is Upgraded by Credit Suisse to Outperform

Nabors Industries (NBR) is Upgraded by Credit Suisse to Outperform , according to the research report released to the investors. Earlier the firm had a rating of Neutral on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Nabors Industries Ltd. (NYSE:NBR) ended Thursday session in red amid volatile trading. The shares closed down 0.5 points or 5.62% at $8.4 with 8,140,757 shares getting traded. Post opening the session at $8.88, the shares hit an intraday low of $8.36 and an intraday high of $8.93 and the price vacillated in this range throughout the day. The company has a market cap of $2,777 million and the number of outstanding shares has been calculated to be 330,569,720 shares. The 52-week high of Nabors Industries Ltd. (NYSE:NBR) is $16.99 and the 52-week low is $8.37.

During the last several months other analysts have commented on the company rating. Major Brokerage house, Citigroup upgrades its ratings on Nabors Industries Ltd. (NYSE:NBR). In the latest research report, Citigroup raises the target price from $11 per share to $14 per share. According to the latest information available, the shares are now rated Buy by the analysts at the agency. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on December 11, 2015.

Analysts at Zacks have given a short term rating of hold on Nabors Industries Ltd. (NYSE:NBR) with a rank of 3. The shares has received an average rating of 2 from 18 brokerage firms. 9 analysts have rated the company as a strong buy. The shares has been rated as hold from 5 Wall Street Analysts. 2 analysts have suggested buying the shares. A sell call was given by 2 analyst.

Nabors Industries Ltd. (NYSE:NBR): 16 analysts have set the short term price target of Nabors Industries Ltd. (NYSE:NBR) at $12.97. The standard deviation of short term price target has been estimated at $2.44, implying that the actual price may fluctuate by this value. The higher and the lower price estimates are $ 18 and $8 respectively.

Nabors Industries Ltd. has lost 8.79% in the last five trading days and dropped 9.18% in the last 4 weeks. Nabors Industries Ltd. has dropped 13.89% during the last 3-month period . Year-to-Date the stock performance stands at -33.92%.

Nabors Industries Ltd. (Nabors) is the land drilling contractor and land well-servicing and workover contractors in the United States and Canada. The Company markets approximately 474 land drilling rigs for oils and gas land drilling operations in the United States Lower 48 states, Alaska, Canada and over 20 other countries globally. The Company actively markets approximately 442 rigs for land well-servicing and workover work in the United States and approximately 106 rigs for land well-servicing and workover work in Canada. In 2012, the Company sold its remaining wholly-owned oil and gas business in Colombia and sold additional wholly owned assets in the United States. In April 2012, TransForce Inc. acquired through its subsidiary, I.E. Miller Services, Inc, certain assets of Peak USA Energy Services, Ltd., subsidiary of Nabors Industries Ltd. In December 2012, the Company sold its 49.7% ownership interest in NFR Energy LLC (NFR Energy).