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| Top Buys by Top Brass: Senior VP and General Counsel Copeland's $1.2M Bet on SMBy Energy Stock Channel Staff, Wednesday, December 28, 2:04 PM ET
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 $1.2M by David W. Copeland, Senior VP and General Counsel at SM Energy Co. (NYSE:SM). Copeland bets big on SM:
Copeland's average cost works out to $76.81/share. In trading on Wednesday, bargain hunters could buy shares of SM Energy Co. (NYSE:SM) and achieve a cost basis lower than Copeland, with shares changing hands as low as $71.67 per share. Shares of SM Energy Co. were changing hands at $72.57 at last check, trading down about 0.7% on Wednesday. The chart below shows the one year performance of SM shares, versus its 200 day moving average:
Looking at the chart above, SM's low point in its 52 week range is $53.45 per share, with $88.50 as the 52 week high point — that compares with a last trade of $72.57. SM operates in the Oil & Gas Exploration & Production sector, among companies like QEP Resources Inc (NYSE:QEP) which is off about 2.5% today, and Cimarex Energy Co (NYSE:XEC) trading lower by about 2.2%. Below is a three month price history chart comparing the stock performance of SM, versus QEP and XEC.
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One Reason For Insiders to Buy
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