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| WTI Trading Below Director's Recent Buy PriceBy Energy Stock Channel Staff, Monday, July 19, 10:09 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 May 10, W & T Offshore Inc's Director, B. Frank Stanley, invested $54,000.00 into 15,000 shares of WTI, for a cost per share of $3.60. 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 Monday, bargain hunters could buy shares of W & T Offshore Inc (NYSE:WTI) and achieve a cost basis 2.2% cheaper than Stanley, with shares changing hands as low as $3.52 per share. W & T Offshore Inc shares are currently trading off about 3.2% on the day. The chart below shows the one year performance of WTI shares, versus its 200 day moving average:
Looking at the chart above, WTI's low point in its 52 week range is $1.35 per share, with $5.14 as the 52 week high point — that compares with a last trade of $3.62. By comparison, below is a table showing the prices at which WTI insider buying was recorded over the last six months:
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