Proficio Capital Partners LLC purchased a new stake in Nabors Industries Ltd. (NYSE:NBR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of 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 3rd quarter valued at approximately $531,000. Van ECK Associates Corp raised its holdings in Nabors Industries by 41.0% in the 4th quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company's stock valued at $11,580,000 after acquiring an additional 58,946 shares in the last quarter. Entropy Technologies LP lifted its position in shares of Nabors Industries by 65.5% in the 4th quarter. Entropy Technologies LP now owns 15,394 shares of the oil and gas company's stock worth $880,000 after acquiring an additional 6,095 shares during the period. Finally, US Bancorp DE grew its holdings in shares of Nabors Industries by 234.9% during the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock worth $41,000 after purchasing an additional 505 shares in the last quarter. 81.92% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
NBR has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. Susquehanna dropped their price target on shares of Nabors Industries from $53.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Nabors Industries presently has a consensus rating of "Hold" and an average price target of $73.00.
View Our Latest Report on NBR
Nabors Industries Price Performance
Shares of NYSE:NBR traded up $0.70 on Wednesday, hitting $44.24. The stock had a trading volume of 316,117 shares, compared to its average volume of 316,393. The firm's 50 day moving average price is $49.95 and its 200-day moving average price is $62.28. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. Nabors Industries Ltd. has a twelve month low of $34.42 and a twelve month high of $105.96. The company has a market capitalization of $424.86 million, a price-to-earnings ratio of -1.98 and a beta of 2.08.
Nabors Industries (NYSE:NBR - Get Free Report) 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 net margin of 5.93% and a negative return on equity of 32.96%. On average, equities research analysts predict that Nabors Industries Ltd. will post -6.22 earnings per share for the current year.
Nabors Industries Profile
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Free Report)
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.
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