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| Grab This Cheap Energy Stock Even Lower Than Director Ellis DidBy Energy Stock Channel Staff, Thursday, March 18, 10:01 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 March 12, APA Corp's Director, Juliet S. Ellis, invested $100,217.25 into 4,545 shares of APA, for a cost per share of $22.05. 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 Thursday, bargain hunters could buy shares of APA Corp (NASDAQ:APA) and achieve a cost basis 7.7% cheaper than Ellis, with shares changing hands as low as $20.35 per share. APA Corp shares are currently trading off about 2.1% on the day. The chart below shows the one year performance of APA shares, versus its 200 day moving average:
Looking at the chart above, APA's low point in its 52 week range is $3.86 per share, with $23.85 as the 52 week high point — that compares with a last trade of $20.67. By comparison, below is a table showing the prices at which APA insider buying was recorded over the last six months:
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