Top Buys by Top Brass: CEO Wilson's $1M Bet on HK

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 $1M by Floyd C. Wilson, CEO at Halcon Resources Corp (HK).

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Wilson bets big on HK:
Purchased Insider Title Shares Price/Share Value
05/29/2015 Floyd C. Wilson Chairman and CEO 1,000,000 $1.03 $1,034,749.55

Wilson's average cost works out to $1.03/share. Shares of Halcon Resources Corp were changing hands at $1.18 at last check, trading off about 6.9% on Thursday. The chart below shows the one year performance of HK shares, versus its 200 day moving average:

Halcon Resources Corp Chart

Looking at the chart above, HK's low point in its 52 week range is $1.01 per share, with $7.50 as the 52 week high point — that compares with a last trade of $1.18.

According to the ETF Finder at ETF Channel, HK makes up 1.05% of the SPDR S&P Oil & Gas Exploration & Production ETF ( XOP) which is trading lower by about 2% on the day Thursday.

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