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 3, EQT Corp.'s Director, James E. Rohr, invested $17,502.08 into 328 shares of EQT, for a cost per share of $53.36. 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 Wednesday, bargain hunters could buy shares of EQT Corp. (NYSE:EQT) and achieve a cost basis even cheaper than Rohr, with shares changing hands as low as $53.10 per share. It should be noted that Rohr has collected $0.22/share in dividends since the time of their purchase, so they are currently down 0.1% on their purchase from a total return basis. EQT Corp. shares are currently trading down about 2.6% on the day. The chart below shows the one year performance of EQT shares, versus its 200 day moving average:
Looking at the chart above, EQT's low point in its 52 week range is $43.00 per share, with $73.10 as the 52 week high point — that compares with a last trade of $53.37. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
EQT operates in the Oil & Gas Exploration & Production sector, among companies like EnCana Corp (NYSE:ECA) which is off about 3% today, and Seadrill Ltd (NYSE:SDRL) trading lower by about 2.9%. Below is a three month price history chart comparing the stock performance of EQT, versus ECA and SDRL.
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