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| Cyber Monday Stock Bargains: Willbros Group Now 40% Below McNabb's Purchase PriceBy Energy Stock Channel Staff, Monday, November 28, 11:55 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 August 26, Willbros Group Inc's Director, John T. McNabb, invested $53,400.00 into 10,000 shares of WG, for a cost per share of $5.34. 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 Willbros Group Inc (NYSE:WG) and achieve a cost basis 40.3% cheaper than McNabb, with shares changing hands as low as $3.19 per share. Willbros Group Inc shares are currently trading down about 8.2% on the day. The chart below shows the one year performance of WG shares, versus its 200 day moving average:
Looking at the chart above, WG's low point in its 52 week range is $3.19 per share, with $12.55 as the 52 week high point — that compares with a last trade of $3.26. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
According to the ETF Finder at ETF Channel, WG makes up 1.93% of the Dynamic Oil & Gas Services Portfolio ETF (AMEX:PXJ) which is trading up by about 5.3% on the day Monday. See what other ETFs contain WG » WG operates in the Oil & Gas Equipment & Services sector, among companies like Carbo Ceramics Inc. (NYSE:CRR) which is up about 6.2% today, and Oil States International, Inc. (NYSE:OIS) trading up by about 7.7%. Below is a three month price history chart comparing the stock performance of WG, versus CRR and OIS.
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One Reason For Insiders to Buy
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