Although crude oil futures traded higher on Thursday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.
Occidental Petroleum
- The Trade: Occidental Petroleum Corporation (NYSE: NYSE:OXY) 10% owner Warren E Buffett acquired a total of 5,887,618 shares at at an average price of $57.11. To acquire these shares, it cost around $336.22 million.
- What’s Happening: The company’s shares have jumped 98% since the start of the year
- What Occidental Petroleum Does: Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East.
- The Trade: Appian Corporation (NASDAQ: APPN) 10% owner Colin Moran acquired a total of 157,000 shares at an average price of $48.21. To acquire these shares, it cost around $7.57 million.
- What’s Happening: Goldman Sachs (NYSE:GS) recently initiated coverage on Appian with a Buy rating and announced a price target of $70.
- What Appian Does: Appian Corp provides a leading low-code software development platform as a service that enables organizations to rapidly develop powerful and unique applications.
Also check this: 4 Stocks Under $2 Insiders Are Aggressively Buying
HCA (NYSE:HCA) Healthcare
- The Trade: HCA Healthcare, Inc. (NYSE: HCA) 10% owner Thomas Frist Jr bought a total of 89,100 shares at an average price of $211.93. To acquire these shares, it cost around $18.88 million.
- What’s Happening: HCA Healthcare reported worse-than-expected Q1 adjusted EPS results and cut FY22 guidance.
- What HCA Healthcare Does: HCA Healthcare is a Nashville-based healthcare provider organization operating the largest collection of acute-care hospitals in the U.S.
- The Trade: Fiserv, Inc. (NASDAQ: FISV) Director Valueact Holdings GP Llc bought a total of 112,575 shares at an average price of $94.90. The insider spent around $10.68 million to buy those shares.
- What’s Happening: Loop Capital recently initiated coverage on the stock with a Buy rating and $125 price target.
- What Fiserv Does: Fiserv is a leading provider of core processing and complementary services, such as electronic funds transfer, payment processing, and loan processing, for U.S. banks and credit unions, with a focus on small and midsize banks.
Read at Benzinga