NBR Stock Summary and Trading Ideas (Nabors Industries Ltd. | NYSE:NBR)

Nabors Industries Ltd owns and operates land-based drilling rig fleets and is a provider of offshore platform rigs in the United States and international markets. It also provides performance tools, directional drilling services, tubular running services, and innovative technologies. It has operations in over 15 countries, 291 actively marketed rigs for land-based drilling operations and 28 actively marketed rigs for offshore platform drilling operations in the United States and multiple international markets. The company has five reportable segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The key revenue of the company is generated from International Drilling.

Nabors Industries Ltd. trades on the NYSE stock market under the symbol NBR.

As of April 19, 2024, NBR stock price declined to $76.53 with 185,390 million shares trading.

NBR has a beta of 1.04, meaning it tends to be more sensitive to market movements. NBR has a correlation of 0.06 to the broad based SPY ETF.

NBR has a market cap of $724.90 million. This is considered a Small Cap stock.

Last quarter Nabors Industries Ltd. reported $726 million in Revenue and -$1.56 earnings per share. This fell short of revenue expectation by $-19 million and missed earnings estimates by -$.34.

In the last 3 years, NBR stock traded as high as $207.67 and as low as $65.58.

The top ETF exchange traded funds that NBR belongs to (by Net Assets): IJR, VTI, IWM, OIH, VXF.

NBR has underperformed the market in the last year with a price return of -35.2% while the SPY ETF gained +21.2%. NBR has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +2.8% and -12.1%, respectively, while the SPY returned +4.3% and -3.5%, respectively.

NBR support price is $74.75 and resistance is $79.33 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NBR stock will trade within this expected range on the day.