US STOCKS-Nabors Industries slides after Pamplona fund sells stake

By Caroline Valetkevitch

NEW YORK, Sept 11 (Reuters) - Nabors Industries (NYSE: NBR - news) was the biggest percentage decliner on the S&P 500 Thursday after Pamplona Capital Management LLP said its private equity fund had sold a stake of about 8.5 percent in the oilfield services provider.

Pamplona Capital is Nabors' largest shareholder, according to Thomson Reuters data. Nabors Industries shares were down 2.7 percent at $24.10.

The stock has rallied about 41.7 percent for the year, however, and is still not considered overvalued according to StarMine data, which puts its intrinsic value at $36.16.

Other energy-related names also were among the day's biggest percentage decliners, including Chesapeake, down 1.5 percent, and Cabot Oil, down 1.5 percent.

The S&P 500 energy index was down 0.3 percent and has had a weak September so far, as oil prices have fallen more than 4 percent. The energy index is down 4.3 percent since the end of August.

Index snapshot at 10:39 EDT:

* S&P 500 down 8.8 points, or 0.44 percent.

* Nasdaq Comp down 21.69 points, or 0.47 percent.

* Dow industrials down 75.62 points, or 0.44 percent.

* Russell 2000 down 3.62 points, or 0.31 percent.

* S&P MidCap down 3.37 points, or 0.24 percent.

* S&P SmallCap down 1.4 points, or 0.21 percent. (Editing by Bernadette Baum)