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.