Adage Capital Partners GP L.L.C. Trims Stock Holdings in Nabors Industries Ltd. (NYSE:NBR)

Adage Capital Partners GP L.L.C. cut its position in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the oil and gas company's stock after selling 15,000 shares during the period. Adage Capital Partners GP L.L.C. owned about 1.03% of Nabors Industries worth $6,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE increased its stake in Nabors Industries by 234.9% in the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock worth $41,000 after buying an additional 505 shares in the last quarter. R Squared Ltd bought a new position in shares of Nabors Industries in the fourth quarter worth about $70,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Nabors Industries during the fourth quarter worth about $97,000. DRW Securities LLC bought a new stake in Nabors Industries during the 4th quarter valued at approximately $234,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Nabors Industries in the 4th quarter worth approximately $284,000. 81.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NBR has been the subject of a number of research analyst reports. Susquehanna cut their price objective on shares of Nabors Industries from $32.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday. Barclays reduced their price target on shares of Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada decreased their price target on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Thursday. Finally, Morgan Stanley cut their price objective on Nabors Industries from $115.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $61.17.

Nabors Industries Price Performance

NBR stock traded up $1.36 during trading on Friday, hitting $28.70. 344,736 shares of the company's stock traded hands, compared to its average volume of 346,458. Nabors Industries Ltd. has a 52 week low of $25.11 and a 52 week high of $105.96. The stock has a market capitalization of $275.63 million, a price-to-earnings ratio of -1.28 and a beta of 1.96. The business has a fifty day simple moving average of $35.59 and a 200 day simple moving average of $54.25. 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 (NYSE:NBR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) EPS for the quarter, missing the consensus estimate of ($2.64) by ($4.86). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. The company had revenue of $742.78 million during the quarter, compared to analysts' expectations of $706.49 million. During the same quarter in the prior year, the business posted ($4.54) EPS. The company's revenue was up .3% on a year-over-year basis. As a group, research analysts expect 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.