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A significant correction has created much lower stock prices, and many insiders are taking advantage of this opportunity. In times like these, there is often a disconnect between the negativity in the headlines and the reality of operating results at certain companies. When you see insider buying at depressed prices, it often means the shares are oversold and offer great long term value. Some of these stocks below look like good investments for the future, while others seem to be better as a short term trading opportunity. I have provided links for each stock which verifies the insider buying filed with the SEC below. Here are the stocks:

Diamond Offshore (NYSE:DO) shares are trading at $55.75. Diamond is an offshore drilling company. These shares have traded in a range between $51.16 to $81.19 in the last 52 weeks. The 50-day moving average is $61.08 and the 200-day moving average is $65.41. Earnings estimates indicate a profit of $6.51 per share for 2011 and $4.79 for 2012. Diamond pays a dividend of 50 cents per share, which is equivalent to a .9% yield. Diamond is seeing increasing demand for their drilling rigs. This stock has been in a downtrend lately but, it's probably a good level for a long term investment. A director recently purchased 1,000 shares.

Exco Resources, Inc. (NYSE:XCO) is trading around $9.77. Exco is a North American oil and natural gas company, and is based in Texas. These shares have traded in a range between $9.33 to $21.04 in the last 52 weeks. The 50-day moving average is $11.48 and the 200-day moving average is $15.66. XCO is estimated to earn about 69 cents per share in 2011, and 88 cents in 2012. XCO pays a dividend of 16 cents per share which is equivalent to a 1.6% yield. An insider recently purchased 2 million shares.

Rosetta Resources, Inc. (NASDAQ:ROSE) is trading around $45.58. Rosetta is an onshore North American oil and natural gas company, with projects located in Texas, Colorado, and California. These shares have traded in a range between $30.42 to $58.04 in the last 52 weeks. The 50-day moving average is $45.79 and the 200-day moving average is $45.75. ROSE is estimated to earn about $1.98 per share in 2011, and $3.58 in 2012. An officer recently purchased 5,000 shares.

W&T Offshore, Inc. (NYSE:WTI) is trading around $20.51. W&T is an offshore oil and natural gas company focusing primarily on projects in the Gulf of Mexico. These shares have traded in a range between $11.87 to $29.27 in the last 52 weeks. The 50-day moving average is $19.26 and the 200-day moving average is $21.43. WTI is estimated to earn about $2.20 per share in 2011, and $2.01 in 2012. WTI pays a dividend of 16 cents per share which is equivalent to a .8% yield. An insider recently purchased about 1,800 shares.

Energy Transfer Partners LP. (NYSE:ETP) is trading around $45.14. Energy Transfer is a oil and natural gas pipeline company, and is based in Texas. These shares have traded in a range between $38.08 to $55.50 in the last 52 weeks. The 50-day moving average is $43.98 and the 200-day moving average is $45.45. ETP is estimated to earn about 69 cents per share in 2011, and 88 cents in 2012. ETP pays a dividend of $3.58 per share which is equivalent to a 7.9% yield. An insider recently purchased 80 shares.

Transocean (NYSE:RIG) shares are trading at $39.89. Transocean is an offshore drilling company. These shares have traded in a range between $38.76 to $85.98 in the last 52 weeks. The 50-day moving average is $48.19 and the 200-day moving average is $59.99. Earnings estimates indicate a profit of $1.59 per share for 2011, and $3.22 for 2012. RIG shares dropped significantly due to their involvement in the oil spill in the Gulf of Mexico. Transocean will benefit from increased demand for their offshore rigs in the Barents Sea as exploration activity heats up in the region, and all over the world due to higher oil prices. However, I would wait for a further drop in these shares before considering an investment, as this company still faces issues and expenses from the BP oil spill and will probably see a dividend cut. An insider recently bought 6,500 shares.

Disclaimer: The data is sourced from Yahoo Finance and stockcharts.com. The information and data is believed to be accurate, but no guarantees or representations are made. Rougemont is not a registered investment advisor and does not provide specific investment advice. The information contained herein is for informational purposes only.

Source: 6 Oil Stocks With Fresh Insider Buying