Insider Bets Paying Off At PHX As New 52-Week High Reached

In trading on Monday, shares of Panhandle Oil & Gas Inc ( PHX) touched a new 52-week high of $34.70/share. That's a 29.33% rise, or $7.87 per share from the 52-week low of $26.83 set back on 03/01/2013. That means at today's intraday high, any investor who purchased PHX stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, PHX has seen 2 different instances of insiders buying over the trailing six month period.

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Purchased Insider Title Shares Price/Share Value
09/06/2013 Duke R. Ligon Director 1,014 $29.06 $29,465.82
09/06/2013 Darryl G. Smette Director 8 $29.07 $232.52

The chart below shows where PHX has traded over the past year, with the 50-day and 200-day moving averages included.

Panhandle Oil & Gas Inc Moving Averages Chart

In afternoon trading on Monday, PHX shares are changing hands at $34.49/share, slightly below the new 52-week high.