This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

5 Stocks Feeling the Insider Love

Nabors Industries

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

An energy name that insiders are loading up on here is Nabors Industries (NBR), a land drilling contractor, as well as a land well-servicing and workover contractor in the U.S. and Canada. Insiders are sniffing out some value here since this stock is off by 12% so far in 2012.

Nabors Industries has a market cap of $4.44 billion and an enterprise value of $8.76 billion. This stock trades at an extremely cheap valuation, with a trailing price-to-earnings of 15.17 and a forward price-to-earnings of 5.97. Its estimated growth rate for this year is 57.6%, and for next year it's pegged at 16.9%. This is far from a cash-rich company, since the total cash position on its balance sheet is $493.97 million and its total debt is a whopping $4.77 billion.

A director just bought 58,000 shares, or around $1 million worth of stock, at $17.34 per share.

From a technical perspective, NBR is currently trading below both its 50-day and 200-day moving averages, which is bearish. This stock has been stuck in a nasty downtrend since it hit a February high of $22.73 a share. Since hitting that high, shares of NBR have plunged and consistently made lower highs and lower lows, which is bearish technical price action. The current downtrend in NBR has pushed the stock near some previous support zones at $15 to $14 a share.

If you're in the bull camp on NBR, then you need to step away from this stock until it shows a complete trend change from bearish to bullish price action. Shares of NBR could find some buying interest soon near its previous support levels at $15 to $14 a share, but the prevailing trend right now is clearly down. Don't try and catch the falling knife, wait until NBR stabilizes and starts to make higher lows and higher highs before you step in to take long positions.

Nabors was included on a list of the Best Growth Stocks for 2012.

2 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,244.17 +87.32 0.51%
S&P 500 2,007.99 +6.42 0.32%
NASDAQ 4,582.7670 +20.5780 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs