RIA Advisory Group LLC Purchases Shares of 12,000 Nabors Industries Ltd. (NYSE:NBR)

RIA Advisory Group LLC bought a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 12,000 shares of the oil and gas company’s stock, valued at approximately $980,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Everence Capital Management Inc. bought a new stake in shares of Nabors Industries during the 4th quarter valued at about $257,000. Strs Ohio raised its stake in Nabors Industries by 68.0% during the 4th quarter. Strs Ohio now owns 4,200 shares of the oil and gas company’s stock worth $342,000 after buying an additional 1,700 shares during the period. Louisiana State Employees Retirement System purchased a new stake in shares of Nabors Industries in the fourth quarter worth approximately $367,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Nabors Industries in the fourth quarter worth approximately $286,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Nabors Industries in the fourth quarter worth approximately $610,000. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Stock Performance

Shares of Nabors Industries stock traded down $0.51 during trading hours on Friday, reaching $76.53. The company had a trading volume of 194,246 shares, compared to its average volume of 245,611. Nabors Industries Ltd. has a one year low of $71.42 and a one year high of $141.47. The business has a fifty day simple moving average of $83.38 and a 200 day simple moving average of $88.67. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.23. The firm has a market cap of $724.74 million, a PE ratio of -14.87 and a beta of 2.33.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, February 6th. The oil and gas company reported ($3.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). The company had revenue of $737.84 million during the quarter, compared to the consensus estimate of $749.52 million. Nabors Industries had a negative return on equity of 17.50% and a negative net margin of 0.66%. On average, analysts anticipate that Nabors Industries Ltd. will post -4.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on NBR shares. Morgan Stanley decreased their price target on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, February 12th. Atb Cap Markets downgraded Nabors Industries from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. Benchmark downgraded Nabors Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Susquehanna reaffirmed a “neutral” rating and set a $88.00 price target on shares of Nabors Industries in a research report on Monday, April 8th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Nabors Industries has an average rating of “Hold” and an average price target of $129.60.

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.