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Nabors Industries Ltd.

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With leading positions in most natural gas and oil-based shale plays, Nabors Industries is a big player in the North American land drilling market. Increased rig activities along with rising margins in Nabors’ Lower 48 operations have helped the well service provider notch up impressive revenue numbers. Moreover, with the advancement of crude oil to over $70, producers are likely to revive spending on drilling activities that would spur rig count. However, the company is witnessing lower margins in its international markets which has adversly affected its last quarter performance. We also need to factor the low return on equity and high debt of the company. Given these factors, we maintain a cautious stance on the stock.


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