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Land This Bargain Energy Stock Even Cheaper Than Director Rosenthal Did
By Energy Stock Channel Staff, Thursday, December 27, 10:43 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on December 21, Oil States International, Inc.'s Director, Gary L. Rosenthal, invested $908,643.19 into 12,971 shares of OIS, for a cost per share of $70.05. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Thursday, bargain hunters could buy shares of Oil States International, Inc. (NYSE:OIS) and achieve a cost basis even cheaper than Rosenthal, with shares changing hands as low as $69.77 per share. Oil States International, Inc. shares are currently trading up about 0.6% on the day. The chart below shows the one year performance of OIS shares, versus its 200 day moving average:
Looking at the chart above, OIS's low point in its 52 week range is $60.03 per share, with $87.65 as the 52 week high point — that compares with a last trade of $69.69. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
||Gary L. Rosenthal
According to the ETF Finder at ETF Channel, OIS makes up 2.67% of the SPDR S&P Oil & Gas Equipment & Services ETF (AMEX:XES) which is trading lower by about 0.2% on the day Thursday.
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