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W & T Offshore: A 17.7% Better Bargain Than When Israel Bought

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 November 18, W & T Offshore Inc's Director, Robert I. Israel, invested $69,454.00 into 3,850 shares of WTI, for a cost per share of $18.04. 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.

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In trading on Wednesday, bargain hunters could buy shares of W & T Offshore Inc (WTI) and achieve a cost basis 17.7% cheaper than Israel, with shares changing hands as low as $14.85 per share. It should be noted that Israel has collected $0.42/share in dividends since the time of their purchase, so they are currently down 15.4% on their purchase from a total return basis. W & T Offshore Inc shares are currently trading up about 0.8% on the day. The chart below shows the one year performance of WTI shares, versus its 200 day moving average:

W & T Offshore Inc Chart

Looking at the chart above, WTI's low point in its 52 week range is $10.68 per share, with $20.43 as the 52 week high point — that compares with a last trade of $14.94. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

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