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.
On Friday, Hess (NYSE:HES)'s Director, Mark R. Williams, made a $980,220 purchase of HES, buying 12,000 shares at a cost of $81.69 each. Bargain hunters are able to grab HES even cheaper than Williams did, with shares changing hands as low as $80.16 at last check today which is 1.9% below Williams's purchase price. This buy marks the first one filed by Williams in the past twelve months.
And at Kinder Morgan Energy Partners (KMP), there was insider buying on Monday, by COO Steven J. Kean who bought 6,600 shares for a cost of $75.50 each, for a trade totaling $498,272. Before this latest buy, Kean made one other buy in the past year, purchasing $198,781 shares for a cost of $81.13 a piece. Kinder Morgan Energy Partners is trading up about 0.4% on the day Tuesday.
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