As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Murphy Oil (NYSE:MUR), a filing with the SEC revealed that on Friday, Director Claiborne P. Deming bought 30,000 shares of MUR, at a cost of $56.67 each, for a total investment of $1.70M. So far Deming is in the green, up about 2.3% on their purchase based on today's trading high of $57.99. Murphy Oil Corp is trading up about 0.9% on the day Tuesday. Before this latest buy, Deming bought MUR at 4 other times during the past twelve months, for a total investment of $10.1M at an average of $61.19 per share.
And at CONSOL Energy (NYSE:CNX), there was insider buying on Monday, by Director Alvin R. Carpenter who purchased 30,000 shares at a cost of $36.71 each, for a total investment of $1.10M. This purchase marks the first one filed by Carpenter in the past twelve months. CONSOL Energy is trading up about 2% on the day Tuesday. So far Carpenter is in the green, up about 3.5% on their buy based on today's trading high of $37.99.
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