EQT Selling 14.6% Below CEO's Recent Buy Price

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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 May 29, EQT Corp's CEO, Robert Joseph McNally, invested $249,317.64 into 13,572 shares of EQT, for a cost per share of $18.37. 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 EQT Corp (Symbol: EQT) and achieve a cost basis 14.6% cheaper than McNally, with shares changing hands as low as $15.68 per share. EQT Corp shares are currently trading down about 0.4% on the day. The chart below shows the one year performance of EQT shares, versus its 200 day moving average:

EQT Corp Chart

Looking at the chart above, EQT's low point in its 52 week range is $14.28 per share, with $30.8185 as the 52 week high point - that compares with a last trade of $15.69. By comparison, below is a table showing the prices at which EQT insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
02/19/2019 Robert Joseph McNally President & CEO 1,496 $19.10 $28,573.60
02/19/2019 David Joseph Smith SVP, Human Resources 16,800 $19.06 $320,208.00
02/19/2019 Jonathan M. Lushko General Counsel & SVP 7,903 $19.04 $150,473.12
02/22/2019 Donald M. Jenkins EVP Commercial, BD, IT & Safty 5,750 $19.46 $111,895.00
03/15/2019 Jimmi Sue Smith SVP & Chief Financial Officer 6,000 $19.79 $118,740.00
03/29/2019 Robert Joseph McNally President & CEO 12,660 $20.80 $263,328.00
03/29/2019 Erin R. Centofanti EVP, Production 7,765 $20.83 $161,744.95
04/01/2019 A. Bray Cary Jr. Director 1,205 $20.74 $24,991.70
04/01/2019 Gerald F. Maccleary Director 1,085 $20.74 $22,502.90
04/01/2019 Daniel J. Rice IV Director 1,025 $20.74 $21,258.50
05/29/2019 Robert Joseph McNally President & CEO 13,572 $18.37 $249,317.64

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks , Energy
Referenced Symbols: EQT

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