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Nabors Industries (NYSE:NBR) was upgraded by analysts at Guggenheim from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports.

NBR has been the subject of a number of other recent research reports. Analysts at Clarkson Capital initiated coverage on shares of Nabors Industries in a research note on Thursday, June 19th. They set an “outperform” rating and a $38.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Nabors Industries in a research note on Wednesday, June 18th. They now have a $29.00 price target on the stock. Finally, analysts at Jefferies Group upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. They now have a $31.00 price target on the stock, up previously from $28.00. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $25.53.

Nabors Industries (NYSE:NBR) traded up 7.36% during mid-day trading on Thursday, hitting $29.31. 3,005,913 shares of the company’s stock traded hands. Nabors Industries has a 1-year low of $14.50 and a 1-year high of $28.63. The stock has a 50-day moving average of $26.43 and a 200-day moving average of $22.0. The company has a market cap of $8.718 billion and a P/E ratio of 90.10. Nabors Industries also was the recipient of some unusual options trading activity on Monday. Stock traders bought 5,919 put options on the company. This represents an increase of 495% compared to the average volume of 994 put options.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, April 22nd. The company reported $0.16 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. On average, analysts predict that Nabors Industries will post $1.16 earnings per share for the current fiscal year.

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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