George Maxwell, CEO at VAALCO Energy (EGY), recently bought 5,000 shares. The buy increased his holdings by 3.9 percent, and came to a total cost of $21,650. The CEO last bought shares in November, grabbing 20,000 shares for just over $111,000.
The most recent buy comes about one month after the company CFO bought 4,250 shares as well. Overall, company insiders have been mixed over the past three years, with large holders making big sales while some insiders have been buyers.
Insiders own 2.4 percent of the oil and gas exploration company.
Shares are up 42 percent this past year, thanks to the strength of the energy market. The company has grown its revenues by 40 percent, but overall earnings are off 80 percent compared to the last year.
Action to take: Investors looking for a smaller energy play may like shares here, as the company trades at less than 3 times forward earnings. And its small market cap makes it an attractive buyout candidate for a bigger player. At present, the stock even pays a 3 percent dividend.
For traders, shares are likely to continue to trend higher. The July 2023 $5 calls, last going for about $0.70, offer high-double-digit returns or better on a further rally in shares.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.