Raymond James Financial Services Advisors Inc. Takes Position in Nabors Industries Ltd. (NYSE:NBR)

Raymond James Financial Services Advisors Inc. bought a new stake in shares of Nabors Industries Ltd. (NYSE:NBR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,509 shares of the oil and gas company’s stock, valued at approximately $286,000.

A number of other large investors have also recently modified their holdings of NBR. Sippican Capital Advisors bought a new stake in shares of Nabors Industries during the 3rd quarter valued at about $205,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Nabors Industries by 48.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 635 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in Nabors Industries during the third quarter worth about $241,000. Fox Run Management L.L.C. bought a new stake in Nabors Industries during the third quarter worth about $261,000. Finally, Hsbc Holdings PLC bought a new stake in Nabors Industries during the third quarter worth about $355,000. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Trading Down 0.6 %

Shares of NYSE NBR opened at $76.08 on Tuesday. The firm’s 50 day moving average price is $83.27 and its 200-day moving average price is $87.84. The company has a market cap of $720.48 million, a PE ratio of -14.74 and a beta of 2.33. Nabors Industries Ltd. has a 52-week low of $71.42 and a 52-week high of $141.47. The company has a debt-to-equity ratio of 4.63, a quick ratio of 1.23 and a current ratio of 1.36.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share for the quarter, missing the consensus estimate of ($1.54) by ($2.30). Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. The company had revenue of $737.84 million for the quarter, compared to analysts’ expectations of $749.52 million. On average, equities research analysts expect that Nabors Industries Ltd. will post -5.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on NBR. Susquehanna reissued a “neutral” rating and set a $88.00 price objective on shares of Nabors Industries in a research note on Monday, April 8th. Morgan Stanley dropped their price objective on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Finally, Benchmark lowered shares of Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nabors Industries presently has a consensus rating of “Hold” and a consensus target price 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.