Adage Capital Partners GP L.L.C. Sells 15,000 Shares of Nabors Industries Ltd. (NYSE:NBR)

Adage Capital Partners GP L.L.C. cut its holdings in Nabors Industries Ltd. (NYSE:NBR - Free Report) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,000 shares of the oil and gas company's stock after selling 15,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 1.03% of Nabors Industries worth $6,289,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in shares of Nabors Industries by 234.9% in the 4th quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock valued at $41,000 after purchasing an additional 505 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $70,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Nabors Industries in the fourth quarter worth about $97,000. DRW Securities LLC bought a new stake in shares of Nabors Industries during the 4th quarter worth about $234,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Nabors Industries during the 4th quarter valued at about $284,000. 81.92% of the stock is owned by institutional investors.

Nabors Industries Stock Performance

Nabors Industries stock traded up $1.36 during mid-day trading on Friday, reaching $28.70. The company had a trading volume of 344,736 shares, compared to its average volume of 346,458. The company has a 50 day moving average of $35.59 and a 200-day moving average of $54.39. The company has a quick ratio of 1.52, a current ratio of 1.75 and a debt-to-equity ratio of 5.95. The firm has a market cap of $275.63 million, a price-to-earnings ratio of -1.28 and a beta of 1.96. Nabors Industries Ltd. has a 52 week low of $25.11 and a 52 week high of $105.96.

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 net margin of 5.93% and a negative return on equity of 32.96%. The company had revenue of $742.78 million for the quarter, compared to the consensus estimate of $706.49 million. During the same period last year, the company earned ($4.54) earnings per share. Nabors Industries's revenue for the quarter was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley reduced their target price on Nabors Industries from $115.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Royal Bank of Canada decreased their price objective on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating for the company in a report on Thursday. Susquehanna dropped their target price on shares of Nabors Industries from $32.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Barclays decreased their price target on shares of Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, Nabors Industries has a consensus rating of "Hold" and a consensus price target of $61.17.

Nabors Industries 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.