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 June 11, Triangle Petroleum Corp's CEO, Jonathan Ryan Samuels, invested $52,300.00 into 10,000 shares of TPLM, for a cost per share of $5.23. 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.

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In trading on Tuesday, bargain hunters could buy shares of Triangle Petroleum Corp ( TPLM) and achieve a cost basis 4.0% cheaper than Samuels, with shares changing hands as low as $5.02 per share. Triangle Petroleum Corp shares are currently trading off about 1.2% on the day. The chart below shows the one year performance of TPLM shares, versus its 200 day moving average:

Triangle Petroleum Corp Chart

Looking at the chart above, TPLM's low point in its 52 week range is $3.10 per share, with $12.48 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 TPLM insider buying was recorded over the last six months:

Purchased Insider Title Shares Price/Share Value
06/11/2015 Jonathan Ryan Samuels President and CEO 10,000 $5.23 $52,300.00

According to the ETF Finder at ETF Channel, TPLM makes up 1.21% of the SPDR S&P Oil & Gas Exploration & Production ETF ( XOP) which is trading up by about 0.6% on the day Tuesday.