Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Is Nabors Industries Ltd. (NBR) A Good Stock To Buy?

As one would reasonably expect, specific money managers have jumped into Nabors Industries Ltd. (NYSE:NBR) headfirst. Graham Capital Management initiated the most valuable position in Nabors Industries Ltd. (NYSE:NBR). The fund reportedly had $27.3 million invested in the company at the end of the quarter. Robert Polak’s Anchor Bolt Capital also made a $17.7 million investment in the stock during the quarter. The other funds with brand new NBR positions are D E Shaw, Ken Griffin’s Citadel Investment Group, and Paul Tudor Jones’ Tudor Investment Corp.

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Nabors Industries Ltd. (NYSE:NBR) but similarly valued. These stocks are Avista Corp (NYSE:AVA), China Biologic Products Inc (NASDAQ:CBPO), Molina Healthcare, Inc. (NYSE:MOH), and PNM Resources, Inc. (NYSE:PNM). This group of stocks’ market values match NBR’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AVA 9 56026 -3
CBPO 27 187425 4
MOH 30 537366 1
PNM 13 161561 3

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $236 million. That figure was $423 million in NBR’s case. Molina Healthcare, Inc. (NYSE:MOH) is the most popular stock in this table. On the other hand Avista Corp (NYSE:AVA) is the least popular one with only 9 bullish hedge fund positions. Nabors Industries Ltd. (NYSE:NBR) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MOH might be a better candidate to consider a long position in.

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.