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Nabors Industries (NYSE:NBR) has been downgraded from Outperform to Market Perform in a statement by Wells Fargo earlier today.

Boasting a price of $7.49, Nabors Industries (NYSE:NBR) traded -0.15% lower on the day. With the last close down -38.85% from the two hundred day average, compared with the S&P 500 Index which has increased 0.05% over the date range. Nabors Industries has recorded a 50-day average of $7.65 and a two hundred day average of $11.12. Volume of trade was down over the average, with 5,658,337 shares of NBR changing hands under the typical 9,100,960

Wells Fargo has downgraded Nabors Industries (NYSE:NBR) from Outperform to Market Perform in a statement released on 7/07/2017.

Performance Chart

Nabors Industries (NYSE:NBR)

With a total market value of $0, Nabors Industries has with a one year low of $6.72 and a one year high of $18.40 .

A total of 24 analysts have released a research note on NBR. Five analysts rating the company a strong buy, thirteen analysts rating the company a buy, ten analysts rating the company a hold, one analyst rating the company a underperform, and finally zero analysts rating the company a sell with a one year target of $11.21.

More About Nabors Industries (NYSE:NBR)

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services. The Company provides wellbore placement services, drilling software and performance tools, drilling equipment and various technologies throughout the oil and gas markets. The Company's Drilling & Rig Services business comprises land-based and offshore drilling rig operations and other rig services, consisting of equipment manufacturing, rig instrumentation and optimization software. The Company is a provider of directional drilling and measurement while drilling (MWD) systems and services. The Company also provides drilling technology and equipment, and well-site services.

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