Another name that insiders are doing some active buying in here is W&T Offshore ( WTI), an independent oil and natural gas producer engaged in the acquisition, exploration and development of oil and natural gas properties primarily in the Gulf of Mexico and Texas. Insiders are buying this stock into some significant weakness since shares are off by 27% so far in 2012. W&T Offshore has a market cap of $1.15 billion and an enterprise value of $1.89 billion. This stock trades at an extremely cheap valuation, with a trailing price-to-earnings of 7.42 and a forward price-to-earnings of 9.54. Its estimated growth rate for this year is -38.2%, and for next year it's pegged at 10.2%. This is not a cash-rich company, since the total cash position on its balance sheet is $8.51 million and its total debt is $684 million. >>5 Value Stocks Insiders Are Snapping Up The CEO and chairman of the board just bought 50,000 shares, or $751,500 worth of stock, at $15.03 per share. This same CEO also recently bought another 50,000 shares, or $780,000 worth of stock, at $15.60 per share. From a technical perspective, WTI is currently trading below both its 50-day and 200-day moving averages, which is bearish. This stock has been stuck in a nasty downtrend for the past three months, with shares falling from $27.17 to a recent low of $14.76 a share. During that move lower, shares of WTI consistently made lower highs and lower lows, which is bearish technical price action. That said, the stock has started to move sideways in the past month between $14.76 and $16.55 a share. If you're in the bull camp on WTI, then I would look for long-biased trades once it triggers a near-term break out above $16.49 to $16.55 a share with high volume. Look for volume on that move that's near or above its three-month average action of 772,781 shares. If we get that action soon, then I would look for a pop back towards its 50-day moving average of $18.85 or its 200-day moving average of $19.74 a share. On the flipside, I would avoid WTI or look for short-biased trades if this stock fails to trigger that near-term breakout, and then takes out some previous support levels at $14.87 to $14.76 a share with high-volume.