Insider Buying Indicates Big Potential In These Stocks

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Moving on to W&T Offshore, Inc. (NYSE:WTI), Virginia Boulet, who serves as an Independent Director at the company, bought 12,750 shares on September 11, at a weighted average price of $3.15 per share. Accounting for this transaction, Ms. Boulet now owns 67,872 shares of W&T Offshore, Inc. (NYSE:WTI). Like most other oil and gas producers, shares of W&T Offshore have mirrored the decline in crude oil prices and are down by 77% since last year, with almost 60% of those declines coming this year alone. On September 1, the company announced entering into an agreement with Ajax Resources LLC under which it will sell all of its interests in Yellow Rose Field in the Permian Basin to the latter for $376 million. Several analysts and experts have lauded W&T Offshore for this deal, as it will allow the company to pay off a large part of its debt while at the same time ensuring that it doesn’t sacrifice any of its offshore holdings in the process. Brian Riano, John Eckerson, Sean Fahey and Albert Marino‘s Claren Road Asset Management became the largest shareholder of the company by the end of the second quarter among the hedge funds tracked by us, having initiated a position of 3.7 million shares during the quarter.

Finally, Franklin Myers, an Independent Director at Comfort Systems USA, Inc. (NYSE:FIX) acquired 4,000 shares of the company at a weighted average price of $28.36 per share on September 11 and now owns a total of 152,500 shares. Comfort Systems USA, Inc. (NYSE:FIX) is one of the few companies this year whose shares have risen steadily throughout the year. Even the recent volatility in the equity markets hasn’t been able to do much damage to the stock, as it trades with year-to-date gains of 64%. For the second quarter of the year the company reported better than expected earnings on July 30, declaring EPS of $0.35 on revenue of $416.60 million, compared to EPS of $0.24 on revenue of $401.10 million that analysts had expected. Owning 755,722 shares at the end of June, Chuck Royce‘s Royce & Associates was the largest shareholder of Comfort Systems USA among the funds covered in our database.

Disclosure: None

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