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Bag This Cheap Energy Stock Even Lower Than CEO Wood Did

By Energy Stock Channel Staff, Thursday, January 9, 11:40 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 August 30, Gulfport Energy Corp.'s CEO, David M. Wood, invested $97,600.00 into 40,000 shares of GPOR, for a cost per share of $2.44. 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 Gulfport Energy Corp. (NASDAQ:GPOR) and achieve a cost basis 2.5% cheaper than Wood, with shares changing hands as low as $2.38 per share. Gulfport Energy Corp. shares are currently trading down about 3.7% on the day. The chart below shows the one year performance of GPOR shares, versus its 200 day moving average:

Gulfport Energy Corp. Chart

Looking at the chart above, GPOR's low point in its 52 week range is $2.28 per share, with $9.60 as the 52 week high point — that compares with a last trade of $2.46. By comparison, below is a table showing the prices at which GPOR insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
08/30/2019 David M. Wood President & CEO 40,000 $2.44 $97,600.00
08/30/2019 Patrick K. Craine General Counsel and Corp. Sec. 15,000 $2.42 $36,300.00
08/30/2019 Quentin R. Hicks EVP & CFO 15,000 $2.38 $35,700.00

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