Barron's Says Nabors Shares Could Benefit From Natural Gas Boom
Shares of oil and gas extraction company Nabors Industries Ltd. (NYSE:NBR) are expected to rise in the near future, according to a recent Barron's analysis, however the heavy amount of insider trading among company officials shouldn't be ignored.
According to the Barron's report, the stock is currently down 50 percent from its 52-week high as natural gas dipped to record low prices. However, the company recently underwent a large reorganization, and now has a new CEO, replacing the former chief who received generous perks and packages, Reuters reports.
The Wall Street Journal stated the report expects the company to perform better in the near future as its drilling operations in the lower 48 states recover from industry challenges, while its offshore and Alaskan projects continue to thrive.
However, despite the high marks the company received in Barron's latest report, officials with the company are still selling off millions of dollars in company stock. In fact, in the last three months, company insiders have sold $1.01 million, with shares valued at $17.34 each.
Why do you think such high insider trading activity is going on amid positive company reviews?
Read Full Insider Report For: NBR |