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 Chesapeake Energy (NYSE:CHK), a filing with the SEC revealed that on Wednesday, Director Archie W. Dunham bought 54,250 shares of CHK, at a cost of $24.97 each, for a total investment of $1.35M. Chesapeake Energy is trading up about 0.6% on the day Monday. Before this latest buy, Dunham made one other buy in the past twelve months, purchasing $5.17M shares for a cost of $25.86 each.
And at Oiltanking Partners LP (OILT), there was insider buying on Friday, by CEO Kenneth F. Owen who purchased 1,500 shares at a cost of $74.34 each, for a total investment of $111,513. This purchase marks the first one filed by Owen in the past year. Oiltanking Partners LP is trading down about 1.3% on the day Monday. So far Owen is in the green, up about 2.2% on their purchase based on today's trading high of $75.99.
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