Markets

Grab This Bargain Energy Stock Even Cheaper Than Chief Financial Officer Restrepo 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 May 4, Nabors Industries Ltd.'s Chief Financial Officer, William J. Restrepo, invested $207,460.00 into 22,000 shares of NBR, for a cost per share of $9.43. 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 Thursday, bargain hunters could buy shares of Nabors Industries Ltd. (Symbol: NBR) and achieve a cost basis 1.6% cheaper than Restrepo, with shares changing hands as low as $9.28 per share. Nabors Industries Ltd. shares are currently trading down about 0.9% on the day. The chart below shows the one year performance of NBR shares, versus its 200 day moving average:

Nabors Industries Ltd. Chart

Looking at the chart above, NBR's low point in its 52 week range is $7.61 per share, with $18.40 as the 52 week high point - that compares with a last trade of $9.60. By comparison, below is a table showing the prices at which NBR insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
05/04/2017 William J. Restrepo Chief Financial Officer 22,000 $9.43 $207,460.00

NBR makes up 2.91% of the First Trust Nasdaq Oil & Gas ETF (Symbol: FTXN)

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

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


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

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