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New 52-Week Low Could Prompt More Insider Buying At OGS

By Market News Video Staff, Wednesday, March 11, 1:28 PM ET
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In trading on Wednesday, shares of ONE Gas, Inc. (NYSE:OGS) touched a new 52-week low of $78.56/share. That's a $18.41 share price drop, or -18.99% decline from the 52-week high of $96.97 set back on 02/18/2020. Large percentage drops always require that the stock post even larger percentage gains from the low in order to recover the old price point, and for OGS that means the stock would have to gain 23.43% to get back to the 52-week high. For a move like that, ONE Gas, Inc. would need fundamental strength at the business level.

Here's a rhetorical question: Who knows more about fundamentals at the business level than the company's own insiders? So let's take a look to see whether any company insiders were taking the other side of the trade as OGS shares were being sold down to this new 52-week low, focusing on the most recent trailing six month period. As summarized by the table below, OGS has seen 2 different instances of insiders buying over the past six months.

Purchased Insider Title Shares Price/Share Value
09/25/2019 Tracy E. Hart Director 250 $95.25 $23,812.50
03/04/2020 Jeffrey J. Husen See Remarks 973 $87.84 $85,468.32

In the short run, while the new 52-week low suggests the stock is at the cheapest price and perhaps therefore the best bargain it has been over the last 52 weeks, the low print also means anyone who has purchased the stock over that timeframe is staring at an unrealized loss. Oftentimes, that factor drives a stock's technical analysis metrics by creating overhead resistance, with investors who bought higher now anxious to reverse their trade once they are back to breakeven. The chart below shows where OGS has traded over the past year, with the 50-day and 200-day moving averages included.

ONE Gas, Inc. Moving Averages Chart

Time will tell whether the insider purchases foretell a future rebound for OGS shares, which are presently showing a last trade of $78.69/share, slightly above the new 52-week low.


This Article's Word Cloud:   Bargains   Cheaper   Director   Hart   Here   Husen   Insider   Insiders   Jeffrey   Large   NYSE   Oftentimes   Price   Purchased   Remarks   Share   Shares   Start   Than   That   Time   Title   Tracy   Value   Wednesday   about   back   below   business   company   from   high   insiders   last   level   means   over   past   percentage   price   share   shares   stock   that   trade   week   were   whether   with   would
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