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Top Buys by Directors: Hughes's $312.7K Bet on OII

By Energy Stock Channel Staff, Thursday, February 28, 11:22 AM ET
Play Video: One Reason For Insiders to Buy

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The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $312.7K by D. Michael Hughes, Director at Oceaneering International, Inc. (NYSE:OII).

Hughes bets big on OII:

Purchased Insider Title Shares Price/Share Value
02/26/2013 D. Michael Hughes Director 5,139 $60.85 $312,683.44

Hughes's average cost works out to $60.85/share. Shares of Oceaneering International, Inc. were changing hands at $63.85 at last check, trading up about 0.8% on Thursday. The chart below shows the one year performance of OII shares, versus its 200 day moving average:

Oceaneering International, Inc. Chart

Looking at the chart above, OII's low point in its 52 week range is $43.22 per share, with $65.37 as the 52 week high point that compares with a last trade of $63.85.

According to the ETF Finder at ETF Channel, OII makes up 4.74% of the Dynamic Oil & Gas Services Portfolio ETF (AMEX:PXJ) which is trading higher by about 0.7% on the day Thursday.

See what other ETFs contain OII
See what other stocks are held by PXJ

Special Offer: Find out how Dave Moenning is trading around the most recent insider transactions with a free 30 day trial .

This Article's Word Cloud:   Dave   Director   Directors   Hughes   Insider   International   Michael   Oceaneering   Price   Share   Shares   Special   Thursday   Value   about   average   both   business   buys   changing   chart   company   directors   earned   expect   insider   last   make   makes   maybe   month   open   other   over   period   point   raquo   share   stock   take   that   they   trading   unique   view   week   what   which   wise   with

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