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Shares of Nabors Industries (NYSE:NBR) hit a new 52-week high during mid-day trading on Tuesday , StockRatingsNetwork reports. The company traded as high as $18.35 and last traded at $18.35, with a volume of 2,804,304 shares trading hands. The stock had previously closed at $17.56.

A number of analysts have recently weighed in on NBR shares. Analysts at Guggenheim reiterated a “neutral” rating on shares of Nabors Industries in a research note on Tuesday, January 28th. They now have a $16.00 price target on the stock, down previously from $18.00. Separately, analysts at Stephens initiated coverage on shares of Nabors Industries in a research note on Friday, January 24th. They set an “equal weight” rating on the stock. Finally, analysts at Zacks reiterated an “underperform” rating on shares of Nabors Industries in a research note on Thursday, January 16th. They now have a $16.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company’s stock. Nabors Industries currently has an average rating of “Hold” and an average price target of $17.94.

The stock has a 50-day moving average of $16.95 and a 200-day moving average of $16.58. The company has a market cap of $5.402 billion and a price-to-earnings ratio of 313.57.

Nabors Industries Ltd. (NYSE:NBR) is the land drilling contractor and land well-servicing and workover contractors in the United States and Canada.

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