Nabors Can Move Sideways For Now
Nabors Industries (NBR) provides drilling and drilling-related services for land-based and offshore oil and natural gas wells across the world. I think the current uncertainty in the energy industry will stop the stock price from exhibiting positive momentum in the short term. Once the pricing strengthens and the U.S. energy activity picks up, the stock will begin to move north in the medium to long term.
The company’s rig fleet utilization in the U.S. has improved in the past two quarters until Q3. Higher international rig count