Top Buys by Top Brass: Chief Executive Officer Reynolds's $144.2K Bet on CHAP

Shutterstock photo

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 $144.2K invested across 2 purchases by Kermit Earl Reynolds, Chief Executive Officer at Chaparral Energy Inc (Symbol: CHAP).

Purchased Insider Title Shares Price/Share Value
08/17/2018 Kermit Earl Reynolds Chief Executive Officer 5,900 $16.03 $94,578.85
11/27/2018 Kermit Earl Reynolds Chief Executive Officer 4,030 $12.31 $49,614.14

Reynolds's average cost works out to $14.52/share. In trading on Friday, bargain hunters could buy shares of Chaparral Energy Inc (Symbol: CHAP) and achieve a cost basis lower than Reynolds, with shares changing hands as low as $7.42 per share. Shares of Chaparral Energy Inc were changing hands at $7.48 at last check, trading off about 6% on Friday. The chart below shows the one year performance of CHAP shares, versus its 200 day moving average:

Chaparral Energy Inc Chart

Looking at the chart above, CHAP's low point in its 52 week range is $4.4777 per share, with $24.90 as the 52 week high point - that compares with a last trade of $7.48.

Click here to find out which other top insider buys by the ''top brass'' you need to know about 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 , Commodities
Referenced Symbols: CHAP

More from BNK Invest


BNK Invest

BNK Invest

Market News, Investing

Research Brokers before you trade

Want to trade FX?