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Bag This Cheap Energy Stock Even Lower Than Chief Financial Officer Bain Did

By Energy Stock Channel Staff, Monday, November 21, 10:14 AM ET
Play Video: One Reason For Insiders to Buy


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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 November 16, VAALCO Energy, Inc.'s Chief Financial Officer, Ronald Y. Bain, invested $23,587.50 into 4,250 shares of EGY, for a cost per share of $5.55. 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 Monday, bargain hunters could buy shares of VAALCO Energy, Inc. (NYSE:EGY) and achieve a cost basis 9.4% cheaper than Bain, with shares changing hands as low as $5.03 per share. VAALCO Energy, Inc. shares are currently trading off about 5.6% on the day. The chart below shows the one year performance of EGY shares, versus its 200 day moving average:

VAALCO Energy, Inc. Chart

Looking at the chart above, EGY's low point in its 52 week range is $2.82 per share, with $8.77 as the 52 week high point — that compares with a last trade of $5.03. By comparison, below is a table showing the prices at which EGY insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
11/15/2022 George W.M. Maxwell Chief Executive Officer 20,000 $5.57 $111,400.00
11/16/2022 Ronald Y. Bain Chief Financial Officer 4,250 $5.55 $23,587.50

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