Over $105M Bet On This Oil Giant? Check Out These 3 Stocks Insiders Are Buying
Portfolio Pulse from Avi Kapoor
Insiders have made significant purchases in Occidental Petroleum, Orion S.A., and HF Sinclair, indicating confidence in these companies' prospects. Warren Buffett acquired $105.6 million worth of Occidental Petroleum shares, while senior executives at Orion and HF Sinclair also made notable buys.
June 13, 2024 | 12:58 pm
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HF Sinclair's Director Franklin Myers bought 2,000 shares at an average price of $52.04, totaling around $104,080. This purchase comes after Wells Fargo maintained an Overweight rating on the stock.
The insider purchase by HF Sinclair's Director, coupled with an Overweight rating from Wells Fargo, indicates confidence in the company's prospects, likely leading to a short-term positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Orion S.A.'s Sr. VP Global Operations Carlos Quinones acquired 4,000 shares at an average price of $23.51, costing around $94,040. This insider purchase follows the company's upbeat quarterly earnings report.
The insider purchase by a senior executive at Orion S.A. following a positive earnings report suggests confidence in the company's growth, likely leading to a short-term positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Warren Buffett acquired 1,750,308 shares of Occidental Petroleum at an average price of $60.30, totaling around $105.6 million. This significant insider purchase indicates strong confidence in the company's prospects.
Warren Buffett's large purchase of Occidental Petroleum shares suggests a strong belief in the company's future performance, likely boosting investor confidence and positively impacting the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100