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| Grab This Cheap Energy Stock Even Lower Than Chief Executive Officer Jennings DidBy Energy Stock Channel Staff, Wednesday, August 18, 11:27 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 August 10, Holly Energy Partners LP's Chief Executive Officer, Michael Jennings, invested $134,625.00 into 7,500 shares of HEP, for a cost per share of $17.95. 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 Holly Energy Partners LP (HEP) and achieve a cost basis even cheaper than Jennings, with shares changing hands as low as $17.85 per share. Holly Energy Partners LP shares are currently trading up about 1.2% on the day. The chart below shows the one year performance of HEP shares, versus its 200 day moving average:
Looking at the chart above, HEP's low point in its 52 week range is $10.48 per share, with $23.69 as the 52 week high point — that compares with a last trade of $18.21. By comparison, below is a table showing the prices at which HEP insider buying was recorded over the last six months:
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