Adage Capital Partners GP L.L.C. Has $6.29 Million Stake in Nabors Industries Ltd. (NYSE:NBR)

Adage Capital Partners GP L.L.C. decreased its stake in Nabors Industries Ltd. (NYSE:NBR) by 12.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 1.03% of Nabors Industries worth $6,289,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE lifted its stake in Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 505 shares during the period. R Squared Ltd acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $70,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $97,000. DRW Securities LLC acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $234,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nabors Industries during the fourth quarter worth about $284,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

Nabors Industries Stock Down 1.5 %

NYSE:NBR opened at $29.39 on Tuesday. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. The company has a market cap of $282.26 million, a PE ratio of -1.31 and a beta of 1.49. Nabors Industries Ltd. has a 52-week low of $25.11 and a 52-week high of $105.96. The stock has a 50-day simple moving average of $36.85 and a 200 day simple moving average of $55.58.

Nabors Industries (NYSE:NBR) last posted 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%. On average, sell-side analysts expect that Nabors Industries Ltd. will post -6.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NBR shares. Barclays dropped their price target on Nabors Industries from $90.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley dropped their price target on Nabors Industries from $115.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Finally, Susquehanna dropped their price target on Nabors Industries from $45.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Nabors Industries currently has an average rating of “Hold” and a consensus price target of $71.17.

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.