WTI crude oil for January delivery was gaining 0.3% to $56.10 a barrel Tuesday afternoon after hitting five and a half year low of $53.60 a barrel earlier in the day, according to MarketWatch.
"We are starting to see a bottom here, and we are getting some value buying" oil consultant Carl Larry from Frost & Sullivan told the publication.
TheStreet Ratings team rates NABORS INDUSTRIES LTD as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NABORS INDUSTRIES LTD (NBR) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and poor profit margins."