Snag This Cheap Energy Stock Even Lower Than VP, Chief Financial Officer Glyphis Did

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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 August 9, Centennial Resource Development Inc's VP, Chief Financial Officer, George S. Glyphis, invested $234,705.00 into 50,000 shares of CDEV, for a cost per share of $4.69. 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 Wednesday, bargain hunters could buy shares of Centennial Resource Development Inc (Symbol: CDEV) and achieve a cost basis 8.8% cheaper than Glyphis, with shares changing hands as low as $4.28 per share. Centennial Resource Development Inc shares are currently trading down about 5.2% on the day. The chart below shows the one year performance of CDEV shares, versus its 200 day moving average:

Centennial Resource Development Inc Chart

Looking at the chart above, CDEV's low point in its 52 week range is $4.24 per share, with $23.12 as the 52 week high point - that compares with a last trade of $4.25. By comparison, below is a table showing the prices at which CDEV insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
08/09/2019 George S. Glyphis VP, Chief Financial Officer 50,000 $4.69 $234,705.00

Click here to find out which 9 other energy stock bargains you can buy cheaper than insiders ยป

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: CDEV

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