Over $153M Bet On Occidental Petroleum? Check Out These 4 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders have made significant purchases in Occidental Petroleum, Citi Trends, PBF Energy, and Ford Motor, indicating confidence in these companies' prospects. Notable trades include Warren Buffett's $153.3 million investment in Occidental Petroleum and significant buys in Citi Trends, PBF Energy, and Ford Motor.
June 10, 2024 | 11:55 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Pleasant Lake Partners LLC acquired 54,335 shares of Citi Trends at an average price of $22.79, totaling around $1.24 million. This insider purchase follows a 3.7% year-over-year increase in quarterly sales.
The insider purchase, coupled with positive sales growth, suggests confidence in Citi Trends' future performance, likely leading to a short-term stock price increase.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ford Motor Director John L Thornton bought 24,790 shares at an average price of $12.08, totaling around $299,463. This comes after Ford reported an 88% jump in electric vehicle sales in the U.S. for the first five months of 2024.
The insider purchase and significant increase in EV sales indicate strong confidence in Ford's future performance, likely leading to a short-term stock price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Warren E Buffett acquired 2,565,477 shares of Occidental Petroleum at an average price of $59.75, totaling around $153.3 million. This significant insider purchase indicates strong confidence in the company's prospects.
Warren Buffett's large purchase signals strong confidence in Occidental Petroleum, likely boosting investor sentiment and short-term stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Control Empresarial de Capitales S.A. de C.V. bought 200,000 shares of PBF Energy at an average price of $45.37, totaling around $9.07 million. This follows an Overweight rating from Wells Fargo, despite a slight price target reduction.
The significant insider purchase and positive analyst rating suggest strong confidence in PBF Energy, likely leading to a short-term stock price increase.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 85