$273M Bet On Occidental Petroleum? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Lisa Levin
Insiders have recently made notable purchases in Masimo Corporation (MASI), Occidental Petroleum Corporation (OXY), and Warner Bros. Discovery, Inc. (WBD). These purchases signal confidence in the companies' prospects and may present an opportunity for investors.
May 31, 2023 | 12:52 pm
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Masimo Corporation's CEO and Chairman, Joe Kiani, acquired 6,365 shares at an average price of $157.16, costing around $1 million, following upbeat quarterly results.
The CEO's purchase of shares indicates confidence in the company's prospects, especially after posting upbeat quarterly results. This could lead to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Warren E. Buffett, 10% owner of Occidental Petroleum Corporation, acquired 4,660,809 shares at an average price of $58.57, costing around $273 million. Mizuho maintained a Buy rating but lowered the price target from $79 to $67.
Buffett's significant investment in OXY signals confidence in the company's prospects, despite Mizuho's lowered price target. This could lead to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Warner Bros. Discovery, Inc.'s CFO, Gunnar Wiedenfels, bought 15,000 shares at an average price of $11.22, costing around $168.28 thousand. Barrington Research upgraded the stock from Market Perform to Outperform and announced an $18 price target.
The CFO's purchase of shares, along with Barrington Research's upgrade and price target announcement, indicates confidence in the company's prospects. This could lead to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100