$312M Bet On Occidental Petroleum? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Warren E. Buffett, a 10% owner of Occidental Petroleum, purchased 5,182,615 shares at an average price of $60.22, totaling approximately $312.09 million. Flowers Foods' CFO Steve Kinsey acquired 1,780 shares at an average price of $22.46. Boaz Weinstein, a 10% owner of ASA Gold and Precious Metals, bought 223,381 shares at an average price of $15.94. These insider trades suggest confidence in the companies' prospects.
December 22, 2023 | 1:32 pm
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POSITIVE IMPACT
Boaz Weinstein's purchase of ASA Gold and Precious Metals shares after a 12% stock gain could indicate further upside potential.
The insider purchase following a recent stock gain suggests that the investor sees continued upside. This could encourage other investors to follow suit.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Flowers Foods' CFO's insider purchase might be a positive signal, despite recent underwhelming revenue results and guidance.
The CFO's purchase suggests some optimism, which could be a positive sign for investors, but the impact may be muted by the recent negative financial reports.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Warren E. Buffett's purchase of Occidental Petroleum shares worth $312M signals strong confidence, potentially influencing the stock positively.
Buffett's investment is a strong vote of confidence in Occidental Petroleum, likely to be viewed positively by investors. However, the recent price target cut by Raymond James may temper some of the enthusiasm.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90