Nabors Industries (NBR) NewsBite - NBR Rises on Higher Oil

Tue. September 30, 2008; Posted: 12:00 PM

Sep 30, 2008 (Fresh Brewed Media via COMTEX) -- NBR | Quote | Chart | News | PowerRating -- Nabors Industries (NYSE: NBR | Quote | Chart | News | PowerRating) opened at $23.67. So far today, the stock has hit a low of $23.67 and a high of $24.58. NBR is now trading at $24.17, up $0.91 (3.91%). Over the last 52 weeks the stock has ranged from a low of $22.50 to a high of $50.58. NBR shares are rising today, helped by higher oil futures. Technical indicators for the stock are bullish and S&P gives NBR a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on NBR the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 20 range.

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For full details on Nabors Industries Inc (NBR) click here. Nabors Industries Inc (NBR) has Short Term PowerRatings of 3. Details on Nabors Industries Inc (NBR) Short Term PowerRatings is available at This Link.

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