Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
At Schlumberger, a filing with the SEC revealed that on Tuesday, Chief Executive Officer Peuch Olivier Le bought 10,000 shares of SLB, at a cost of $13.77 each, for a total investment of $137,650. Le was up about 6.1% on the purchase at the high point of today's trading session, with SLB trading as high as $14.60 in trading on Friday. Schlumberger is trading up about 1.2% on the day Friday. This purchase marks the first one filed by Le in the past year.
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