of $54.65. 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.

Click here to find out which 9 other energy stock bargains you can buy cheaper than insiders, at EnergyStockChannel.com »

In trading on Tuesday, bargain hunters could buy shares of Diamond Offshore Drilling, Inc. (NYSE: DO) and achieve a cost basis even cheaper than Gaffney, with shares changing hands as low as $54.14 per share. Diamond Offshore Drilling, Inc. shares are currently trading up about 2.4% on the day. The chart below shows the one year performance of DO shares, versus its 200 day moving average:

Looking at the chart above, DO's low point in its 52 week range is $51.16 per share, with $81.19 as the 52 week high point — that compares with a last trade of $54.34. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:

Purchased	Insider	Title	Shares	Price/Share	Value
12/15/2011	Paul G. Gaffney	Director	1,000	$54.65	$54,646.00

The current annualized dividend paid by Diamond Offshore Drilling, Inc. is $0.50/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 10/28/2011. Below is a long-term dividend history chart for DO, which can be of good help in judging whether the most recent dividend with approx. 0.9% annualized yield is likely to continue.

According to the ETF Finder at ETF Channel, DO makes up 5.54% of the Oil Services HOLDRS ETF (AMEX: OIH) which is trading up by about 3.1% on the day Tuesday.

See what other ETFs contain DO » See what other stocks are held by OIH »

DO operates in the Oil & Gas Exploration & Production sector, among companies like Plains Exploration & Production Co. L.P. (PXP), and Kosmos Energy Ltd (NYSE: KOS) trading higher by about 2.9%. Below is a three month price history chart comparing the stock performance of DO, versus KOS.

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