Proficio Capital Partners LLC Takes $664,000 Position in Nabors Industries Ltd. (NYSE:NBR)

Proficio Capital Partners LLC bought a new position in Nabors Industries Ltd. (NYSE:NBR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,606 shares of the oil and gas company's stock, valued at approximately $664,000. Proficio Capital Partners LLC owned about 0.11% of Nabors Industries at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Nabors Industries by 1.5% in the third quarter. Geode Capital Management LLC now owns 206,041 shares of the oil and gas company's stock worth $13,286,000 after purchasing an additional 3,054 shares during the last quarter. Van ECK Associates Corp raised its position in Nabors Industries by 41.0% during the 4th quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company's stock worth $11,580,000 after buying an additional 58,946 shares during the last quarter. Barclays PLC raised its position in Nabors Industries by 60.8% during the 3rd quarter. Barclays PLC now owns 112,318 shares of the oil and gas company's stock worth $7,241,000 after buying an additional 42,483 shares during the last quarter. FMR LLC lifted its stake in Nabors Industries by 10.6% during the 3rd quarter. FMR LLC now owns 51,794 shares of the oil and gas company's stock valued at $3,339,000 after acquiring an additional 4,949 shares during the period. Finally, PDT Partners LLC boosted its holdings in shares of Nabors Industries by 49.7% in the 3rd quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company's stock valued at $3,008,000 after acquiring an additional 15,494 shares during the last quarter. Institutional investors and hedge funds own 81.92% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NBR shares. Barclays decreased their target price on shares of Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Susquehanna decreased their price objective on Nabors Industries from $53.00 to $45.00 and set a "neutral" rating for the company in a report on Thursday. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $73.00.

Nabors Industries Stock Performance

NBR stock traded down $0.87 during midday trading on Thursday, hitting $39.27. 298,128 shares of the stock traded hands, compared to its average volume of 304,408. Nabors Industries Ltd. has a 1-year low of $34.42 and a 1-year high of $105.96. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.75 and a quick ratio of 1.52. The stock's fifty day simple moving average is $53.44 and its 200-day simple moving average is $64.34. The firm has a market cap of $377.11 million, a P/E ratio of -1.76 and a beta of 2.08.

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

About Nabors Industries

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.