Benchmark Co. analyst Kurt Hallead maintained a Hold rating on Nabors Industries (NBR – Research Report) today. The company’s shares closed yesterday at $80.13.
Hallead covers the Energy sector, focusing on stocks such as Schlumberger, Weatherford International, and Baker Hughes Company. According to TipRanks, Hallead has an average return of 2.7% and a 38.57% success rate on recommended stocks.
Currently, the analyst consensus on Nabors Industries is a Hold with an average price target of $112.50, representing a 40.40% upside. In a report released on April 11, RBC Capital also maintained a Hold rating on the stock with a $114.00 price target.
Based on Nabors Industries’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $725.8 million and a GAAP net loss of $16.7 million. In comparison, last year the company earned a revenue of $760.15 million and had a GAAP net loss of $69.07 million
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Nabors Industries (NBR) Company Description:
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.
