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February 19, 2014
11:27 EDTPKD, PES, NBR, PDSNabors Industries hits 52-week high after results top expectations
Shares of land drilling contractor Nabors Industries (NBR) are advancing after the company reported fourth quarter results that easily surpassed expectations. Notably, the company also struck an optimistic tone about its near-term outlook. WHAT'S NEW: Last night, Nabors Industries reported Q4 earnings per share of 42c and revenue of $1.61B, easily topping expectations of 20c and $1.55B, respectively. The company noted that its EPS results benefited by about 16c from tax benefits, the full recovery of receivables in a customer bankruptcy settlement, and early termination payments. Nabors said it believes 2013 will represent the low point in its "protracted five-year trough" and that beginning in its second quarter the company foresees "substantial year-over-year quarterly improvement, which should accelerate in the second half." ANALYST REACTION: This morning, research firm CLSA upgraded Nabors Industries to Outperform from Underperform. PRICE ACTION: In late morning trading, Nabors Industries rose $2.00, or 10.6%, to $20.64 on nearly twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $20.74. Including today's move, the stock has gained about 14% over the past twelve months. OTHERS TO WATCH: Other drilling contractors include Parker Drilling (PKD), Precision Drilling (PDS) and Pioneer Energy Services (PES), which are all trading higher this morning.
News For NBR;PKD;PDS;PES From The Last 14 Days
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April 27, 2015
10:00 EDTNBROn The Fly: Analyst Upgrade Summary
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06:26 EDTNBRNabors Industries upgraded to Buy from Neutral at Goldman
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06:07 EDTPDSPrecision Drilling reports Q2 EPS 8c, consensus 4c
Reports Q2 revenue $512.12M, consensus $491.55M.
April 23, 2015
07:39 EDTNBRNabors Industries should emerge from downturn stronger, says UBS
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April 21, 2015
17:22 EDTNBRNabors Industries sees Q2 results lower
The company noted, "Looking ahead, results are expected to be lower in the second quarter as activity and pricing weaken in the U.S. Lower 48 and international markets soften. Second-quarter results will also be impacted by the usual seasonal declines in Alaska and Canada."
17:20 EDTNBRNabors Industries reports Q1 EPS 20c, may not compare to consensus 4c
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15:28 EDTNBRNotable companies reporting after market close
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09:33 EDTPDSPrecision Drilling downgraded to Sector Perform from Outperform at Scotia Capital
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April 20, 2015
07:48 EDTNBRPrice targets on land drillers raised at RBC Capital
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April 17, 2015
08:29 EDTNBRU.S. may be at, or near, peak oil output, WSJ says
New data and forecasts suggest lower crude prices are finally prompting U.S. energy companies to cut back their crude output, according to The Wall Street Journal, citing reports from OPEC, the DOE and North Dakota. Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Publicly traded drillers and oil services companies include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT). Reference Link
April 15, 2015
08:58 EDTNBROil services stocks should be bought on dips, says BMO Capital
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06:16 EDTNBROil layoffs reach 100,000 and still going, WSJ reports
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April 14, 2015
09:20 EDTPDS, NBRMorgan Stanley calls a bottom in Oil Services sector
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