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NBR Crosses Below Key Price/Book Valuation Level

By Market News Video Staff, Monday, August 8, 2:35 PM ET
Now Playing: The Importance of Book Value


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In trading on Monday, shares of Nabors Industries Ltd. (NYSE:NBR) crossed below their last reported book value — defined as common shareholder equity per share — of $19.92, changing hands as low as $19.27 per share. Nabors Industries Ltd. shares are currently trading down about 6.4% on the day. The chart below shows the one year performance of NBR shares, versus its 50 and 200 day moving averages:

Nabors Industries Ltd. Moving Averages Chart

Looking at the chart above, NBR's low point in its 52 week range is $15.54 per share, with $32.47 as the 52 week high point — that compares with a last trade of $19.41.

According to the ETF Finder at ETF Channel, NBR makes up 4.08% of the Dynamic Oil & Gas Services Portfolio ETF (AMEX:PXJ) which is trading lower by about 5% on the day Monday.

     See what other ETFs contain NBR »
     See what other stocks are held by PXJ »

NBR operates in the Oil & Gas Exploration & Production sector, among companies like Ensco plc (NYSE:ESV) which is off about 6.9% today, and QEP Resources Inc (NYSE:QEP) trading lower by about 4%. Below is a three month price history chart comparing the stock performance of NBR, versus ESV and QEP.

NBR,ESV,QEP Relative Performance Chart


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