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 $181.5K by William J. Restrepo, Chief Financial Officer at Nabors Industries Ltd. (Symbol: NBR).
William J. Restrepo
Chief Financial Officer
Restrepo's average cost works out to $8.25/share. In trading on Wednesday, bargain hunters could buy shares of Nabors Industries Ltd. (Symbol: NBR) and achieve a cost basis lower than Restrepo, with shares changing hands as low as $6.16 per share. It should be noted that Restrepo has collected $0.06/share in dividends since the time of their purchase, so they are currently down 24.6% on their purchase from a total return basis. Shares of Nabors Industries Ltd. were changing hands at $6.30 at last check, trading up about 1.6% on Wednesday. The chart below shows the one year performance of NBR shares, versus its 200 day moving average:
Looking at the chart above, NBR's low point in its 52 week range is $5.32 per share, with $18.40 as the 52 week high point - that compares with a last trade of $6.30.
According to the ETF Finder at ETF Channel, NBR makes up 7.77% of the SPDR S&P Oil & Gas Equipment & Services ETF (Symbol: XES) which is trading relatively unchanged on the day Wednesday.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.