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| Pick Up This Cheap Energy Stock Even Lower Than Chief Executive Officer Krimbill DidBy Energy Stock Channel Staff, Wednesday, June 22, 1:12 PM 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 June 13, NGL Energy Partners LP's Chief Executive Officer, H. Michael Krimbill, invested $173,170.00 into 100,000 shares of NGL, for a cost per share of $1.73. 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 NGL Energy Partners LP (NYSE:NGL) and achieve a cost basis 7.0% cheaper than Krimbill, with shares changing hands as low as $1.61 per share. NGL Energy Partners LP shares are currently trading down about 6.6% on the day. The chart below shows the one year performance of NGL shares, versus its 200 day moving average:
Looking at the chart above, NGL's low point in its 52 week range is $1.38 per share, with $2.91 as the 52 week high point — that compares with a last trade of $1.62. By comparison, below is a table showing the prices at which NGL insider buying was recorded over the last six months:
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