Watch stocks you care about
The single, easiest way to keep track of all the stocks that matter...
Your own personalized stock watchlist!
It's a 100% FREE Motley Fool service...
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Drilling contractor Nabors Industries (NYSE: NBR ) saw its shares shoot 10% higher today after the company released earnings.
So what: Revenue jumped from $1.4 billion a year ago to $1.84 billion and topped analyst estimates. Earnings per share fell a penny short of estimates at $0.49, but investors were apparently willing to overlook that today.
Now what: The market has been worried about a decline in the pressure pumping business because of a reduction in natural gas fracking, but Nabors appears to be weathering the storm. Management said that existing contracts would give the pumping unit a "respectable" year and high oil prices would keep demand high for the company's other products. Trading for under $17 and a forward P/E ratio of 6.5, the shares look attractive right now, and I think this is a great time to buy.
Interested in more info on Nabors Industries? Add it to your Watchlist.
RSS Headlines
Fool UK
Comments from our Foolish Readers
Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the
Report this Comment icon found on every comment.
Report this Comment On July 03, 2012, at 9:17 PM, cajun1958 wrote:
Will tkis be the same story when NBR releases Q2 earnings...probably....given the 4% jump on 7/2 based on crude price rise. The massive reduction in land rigs looking for gas has already been factored into the stock's price and natural gas prices should finally rise on utility demand if weather stays hot in midwest.
Add your comment.