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SPN

Grab This Bargain Energy Stock Even Cheaper Than EVP, CFO & Treasurer Ballard Jr. 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 October 24, Superior Energy Services, Inc.'s EVP, CFO & Treasurer, Westervelt T. Ballard Jr., invested $30,729.20 into 4,000 shares of SPN, for a cost per share of $7.68. 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 Superior Energy Services, Inc. (Symbol: SPN) and achieve a cost basis even cheaper than Ballard Jr., with shares changing hands as low as $7.61 per share. Superior Energy Services, Inc. shares are currently trading up about 0.2% on the day. The chart below shows the one year performance of SPN shares, versus its 200 day moving average:

Superior Energy Services, Inc. Chart

Looking at the chart above, SPN's low point in its 52 week range is $7.28 per share, with $12.725 as the 52 week high point - that compares with a last trade of $7.85. By comparison, below is a table showing the prices at which SPN insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
10/24/2018 Westervelt T. Ballard Jr. EVP, CFO & Treasurer 4,000 $7.68 $30,729.20

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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