Nabors Industries (NBR) Stock Up on Oil Prices, Stephens Upgrade

Analysts at Stephens upgraded their rating on shares of Nabor Industries (NBR) to ‘overweight.’
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Nabors Industries (NBR) - Get Report  are up 9.81% to $10.30 in midday trading as oil prices rise and Stephens lifts its rating on the stock to "overweight" from "equal weight."

Stephens said the company offers "the most favorable risk reward overall."

Crude oil (WTI) is up 3.8% to $46.34 per barrel and Brent crude is up 3.83% to $48.02 per barrel.

Oil is rallying today after OPEC released a note this morning forecasts a major decline in non-OPEC oil reserves in 2017.

Prices are also rising on a weaker U.S. dollar. Oil's slow rebound today is coming off of near two-month lows.

Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D.

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

You can view the full analysis from the report here: NBR

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

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