A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. 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 - maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $103K by James J. Volker, CEO at Whiting Petroleum Corp (Symbol: WLL).
James J. Volker
Chairman, President and CEO
Volker's average cost works out to $10.30/share. In trading on Monday, bargain hunters could buy shares of Whiting Petroleum Corp (Symbol: WLL) and achieve a cost basis lower than Volker, with shares changing hands as low as $9.93 per share. Shares of Whiting Petroleum Corp were changing hands at $10.03 at last check, trading off about 3.1% on Monday. The chart below shows the one year performance of WLL shares, versus its 200 day moving average:
Looking at the chart above, WLL's low point in its 52 week range is $3.35 per share, with $36.39 as the 52 week high point - that compares with a last trade of $10.03.
According to the ETF Finder at ETF Channel, WLL makes up 5.44% of the PowerShares Dynamic Energy Exploration & Production Portfolio ETF (Symbol: PXE) which is trading lower by about 2.6% on the day Monday.