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

Proficio Capital Partners LLC acquired a new stake in Nabors Industries Ltd. (NYSE:NBR) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 11,606 shares of the oil and gas company’s stock, valued at approximately $664,000.

A number of other institutional investors have also recently bought and sold shares of NBR. Van ECK Associates Corp grew its stake 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 purchasing an additional 58,946 shares during the period. Barclays PLC grew its stake in shares of 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 acquiring an additional 42,483 shares during the period. PDT Partners LLC grew its stake in shares of Nabors Industries by 49.7% during the 3rd quarter. PDT Partners LLC now owns 46,659 shares of the oil and gas company’s stock worth $3,008,000 after acquiring an additional 15,494 shares during the period. Centiva Capital LP bought a new position in shares of Nabors Industries during the 3rd quarter worth $531,000. Finally, Entropy Technologies LP grew its stake in shares of Nabors Industries by 65.5% during 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. Institutional investors own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

NBR has been the subject of several research reports. Susquehanna cut their price target on Nabors Industries from $53.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Barclays cut their price target on 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. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.00.

Nabors Industries Stock Performance

Shares of NBR opened at $43.53 on Friday. The stock’s 50-day simple moving average is $50.76 and its 200 day simple moving average is $62.65. The stock has a market capitalization of $418.05 million, a price-to-earnings ratio of -1.95 and a beta of 2.08. 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 52-week low of $34.42 and a 52-week high of $105.96.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Wednesday, February 12th. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Research analysts forecast that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal 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.