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Whilst it may not be a huge deal, we thought it was good to see that the Omega Oil & Gas Limited (ASX:OMA) Non-Executive Director, Quentin Flannery, recently bought AU$106k worth of stock, for AU$0.32 per share. That purchase might not be huge but it did increase their holding by 11%.
The Last 12 Months Of Insider Transactions At Omega Oil & Gas
In fact, the recent purchase by Quentin Flannery was the biggest purchase of Omega Oil & Gas shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at above the current price of AU$0.24. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
In the last twelve months Omega Oil & Gas insiders were buying shares, but not selling. They paid about AU$0.28 on average. I'd consider this a positive as it suggests insiders see value at around the current price. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Check out our latest analysis for Omega Oil & Gas
Omega Oil & Gas is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.
Does Omega Oil & Gas Boast High Insider Ownership?
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Our data suggests Omega Oil & Gas insiders own 4.0% of the company, worth about AU$3.2m. However, it's possible that insiders might have an indirect interest through a more complex structure. We prefer to see high levels of insider ownership.
So What Does This Data Suggest About Omega Oil & Gas Insiders?
The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Omega Oil & Gas stock. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example, Omega Oil & Gas has 5 warning signs (and 1 which is concerning) we think you should know about.