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Snatch This Bargain Energy Stock Even Cheaper Than CFO Aldridge Did
By Energy Stock Channel Staff, Monday, November 28, 10:46 AM ET
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 November 21, Saratoga Resources Inc's Chief Financial Officer, Michael O. Aldridge, invested $50,191.75 into 10,000 shares of SARA, for a cost per share of $5.02. 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 Monday, bargain hunters could buy shares of Saratoga Resources Inc (SARA) and achieve a cost basis 6.6% cheaper than Aldridge, with shares changing hands as low as $4.69 per share. Saratoga Resources Inc shares are currently trading up about 3.9% on the day. The chart below shows the one year performance of SARA shares, versus its 200 day moving average:
Looking at the chart above, SARA's low point in its 52 week range is $2.01 per share, with $11.00 as the 52 week high point — that compares with a last trade of $4.72. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
||Michael O. Aldridge
||Chief Financial Officer
SARA operates in the Oil & Gas Exploration & Production sector, among companies like Exco Resources Inc. (XCO) which is up about 6.2% today, and McMoran Exploration Co (MMR) trading up by about 9.3%. Below is a three month price history chart comparing the stock performance of SARA, versus XCO and MMR.
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