One independent oil and gas player that insiders are jumping into here is Endeavour (END). This company is engaged in the production, exploration, development and acquisition of crude oil and natural gas in the U.K. North Sea and U.S. Onshore. Insiders are buying this stock into some notable weakness, since shares are down by 35% in the last three months.
Endeavour has a market cap of $277 million and an enterprise value of $1.03 billion. This stock trades at a cheap valuation, with a forward price-to-earnings of 9.31. Its estimated growth rate for this year is -61%, and for next year it's pegged at 128.6%. This is not a cash-rich company, since the total cash position on its balance sheet is $75.72 million and its total debt is $825.43 million.A beneficial owner just bought 337,979 shares, or $1.83 million worth of stock, at $5.40 per share. From a technical perspective, END is currently trending below both its 50-day and 200-day moving averages. This stock has been downtrending badly for the last four months, with shares dropping from $10.48 to its recent low of $4.66 a share. During that downtrend, shares of END have been mostly making lower highs and lower lows, which is bearish technical price action. That said, the stock has recently started to rebound off that $4.66 low and move within range of triggering a near-term breakout trade. If you're bullish on END, then I would look for long-biased trades if this stock manages to break out above some near-term overhead resistance levels at $6.22 to $6.61 a share and then once it takes out more overhead resistance levels at $6.91 to $7.19 with high volume. Look for a sustained move or close above those levels with volume that registers near or above its three-month average action of 773,839 shares. If that breakout hits soon, then END will set up to re-test or possibly take out its next major overhead resistance levels at $8 to its 200-day moving average at $8.40 a share. Synageva BioPharma Another name in the biopharmaceutical complex that insiders are snapping up here is Synageva BioPharma (GEVA). This company is focused on the discovery, development, and commercialization of therapeutic products for patients with life-threatening rare diseases and unmet medical need. Insiders are buying this stock into some decent strength, since shares are up 19% in the last six months.
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