Proficio Capital Partners LLC Purchases Shares of 11,606 Nabors Industries Ltd. (NYSE:NBR)

Proficio Capital Partners LLC purchased a new stake in Nabors Industries Ltd. (NYSE:NBR) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,606 shares of the oil and gas company’s stock, valued at approximately $664,000. Proficio Capital Partners LLC owned 0.11% of Nabors Industries as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company’s stock valued at $7,241,000 after buying an additional 42,483 shares during the period. Centiva Capital LP acquired a new position in Nabors Industries in the third quarter valued at approximately $531,000. Van ECK Associates Corp lifted its stake in Nabors Industries by 41.0% in the fourth quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company’s stock valued at $11,580,000 after buying an additional 58,946 shares during the period. Entropy Technologies LP lifted its stake in Nabors Industries by 65.5% in the fourth quarter. Entropy Technologies LP now owns 15,394 shares of the oil and gas company’s stock valued at $880,000 after buying an additional 6,095 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Nabors Industries by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 43,602 shares of the oil and gas company’s stock valued at $2,493,000 after buying an additional 1,184 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NBR has been the topic of a number of research reports. Susquehanna lowered their target price on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Barclays lowered their target price on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.00.

Nabors Industries Trading Down 0.6 %

Shares of Nabors Industries stock opened at $43.53 on Friday. The stock has a fifty day simple moving average of $50.76 and a 200 day simple moving average of $62.65. Nabors Industries Ltd. has a 12-month low of $34.42 and a 12-month high of $105.96. The company has a market capitalization of $418.05 million, a P/E ratio of -1.95 and a beta of 2.08. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($4.81). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. On average, sell-side analysts anticipate that Nabors Industries Ltd. will post -6.22 earnings per share for the current fiscal year.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.