Barclays Maintains Overweight Rating for Nabors Industries: Here's What You Need To Know

Barclays has decided to maintain its Overweight rating of Nabors Industries NBR and raise its price target from $200.00 to $250.00.

Shares of Nabors Industries are trading down 2.84% over the last 24 hours, at $168.55 per share.

A move to $250.00 would account for a 48.32% increase from the current share price.

About Nabors Industries

Nabors Industries Ltd is one of the world's largest land rig drilling contractors. The company has more than 500 land rigs, more than 600 land workover rigs, and numerous offshore rigs that drill for oil and natural gas globally. The company derives about 75% of its revenue from North America. In addition, The business consists of five reportable segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. Nabors provides well servicing, engineering, transportation, and other services for oil and gas producers.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.