Top Buys By Top Brass: CEO Reger's $1.1M Bet On NOG

A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. 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 — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $1.1M by Michael Lewis Reger, C E O at Northern Oil & Gas Inc ( NOG).

Click here to find out which other top insider buys by the ''top brass'' you need to know about »

Reger bets big on NOG:
Purchased Insider Title Shares Price/Share Value
05/14/2015 Michael Lewis Reger C E O 150,000 $7.01 $1,051,500.00

Reger's average cost works out to $7.01/share. In trading on Monday, bargain hunters could buy shares of Northern Oil & Gas Inc ( NOG) and achieve a cost basis lower than Reger, with shares changing hands as low as $6.91 per share. Shares of Northern Oil & Gas Inc were changing hands at $6.96 at last check, trading up about 1.8% on Monday. The chart below shows the one year performance of NOG shares, versus its 200 day moving average:

Northern Oil & Gas Inc  Chart

Looking at the chart above, NOG's low point in its 52 week range is $4.79 per share, with $17.43 as the 52 week high point — that compares with a last trade of $6.96.

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