NEW YORK ( TheStreet) -- Nabors Industries (NYSE: NBR) hit a new 52-week high Wednesday as it traded at $26.65 compared with its previous 52-Week high of $26.63. Nabors is changing hands at $26.59 with 3.6 million shares traded as of 10:58 a.m. ET. Average volume has been 4.1 million shares over the past 30 days. Nabors has a market cap of $7.5 billion and is part of the basic materials sector and energy industry. Shares are up 10.5% year to date as of the close of trading on Tuesday.

Nabors Industries Ltd. operates as a land drilling contractor worldwide. It conducts oil, gas, and geothermal land drilling operations in the United States Lower 48 states, Alaska, Canada, South America, Mexico, the Caribbean, the Middle East, the Far East, Russia, and Africa.

TheStreet Ratings rates Nabors as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and feeble growth in the company's earnings per share. You can view the full Nabors Ratings Report.

See all 52-week high stocks or get investment ideas from our investment research center.