Nabors Industries Ltd. (NYSE:NBR) shares were trading more than 7% lower Monday afternoon following the company’s 2021 Virtual Analyst Meeting, where the company delivered a series of presentations highlighting its industry outlook and vision through 2023 and beyond, operational priorities, balance sheet outlook, and Energy Transition strategy.

Despite the stock sell-off, analysts at RBC Capital said that they came away from the session with an enhanced appreciation for the technology capability within the company and believe continued execution on its strategic priorities could potentially lead them to become more constructive as a recovery in global land drilling activity unfolds.