Around $589M Bet On Occidental Petroleum? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders at Lovesac Company, Occidental Petroleum, J. M. Smucker, and Energy Transfer have made significant stock purchases. Lovesac's 10% owner bought shares worth $3.86M, while Warren Buffett acquired $588.67M in Occidental Petroleum shares. A J. M. Smucker director purchased $125,050 worth of shares, and Energy Transfer's Co-CEO invested $659,500 in the company's stock. These purchases may indicate insider confidence despite varying company performance reports.
December 14, 2023 | 11:58 am
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NEUTRAL IMPACT
Energy Transfer's Co-CEO Marshall McCrea III bought 50,000 shares at $13.19 each, totaling $659,500, despite the company posting downbeat quarterly earnings.
The Co-CEO's purchase might counteract the negative sentiment from the recent earnings miss, but the mixed signals could lead to a neutral short-term impact on the stock price.
CONFIDENCE 65
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Lovesac's 10% owner Randy Eisenman purchased 151,784 shares at $25.46 each, totaling around $3.86 million, following upbeat quarterly sales.
The significant purchase by a major owner following positive sales data suggests a strong vote of confidence in Lovesac's future, potentially influencing the stock to rise in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Warren E. Buffett, a 10% owner, acquired 10,482,162 shares of Occidental Petroleum at $56.16 each, costing about $588.67 million, as the company plans to acquire CrownRock L.P.
Warren Buffett's massive investment in Occidental Petroleum, especially during a significant acquisition move, is likely to be seen as a strong positive signal by the market, potentially driving the stock price up in the short term.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
J. M. Smucker Director Tarang Amin bought 1,000 shares at $125.05 each, spending $125,050, after the company reported better-than-expected earnings for its second quarter.
The director's purchase, aligned with recent positive earnings, could be a bullish sign for investors, suggesting a potential uptick in J. M. Smucker's stock price in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70