Nabors Industries Cut at Citi Over Limited Cash Flow Projections
Friday, 13 September 2024, 20:28
Nabors Industries Downgraded at Citi
The recent downgrade of Nabors Industries by Citi highlights the company's limited near-term free cash flow and increasing debt. This decision comes as analysts reassess drilling contractors in light of current market conditions.
Reasons for Downgrade
- Heavy debt load impacting financial flexibility
- Limited cash flow severely affecting operations
Patterson-UTI Energy Preferred
In contrast, Patterson-UTI Energy emerges as a preferred choice. Analysts see it as a more stable investment within the volatile drilling sector. Investors may find Patterson-UTI a more attractive option amidst these challenges.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.