3 Stocks Insiders Are Buying: JPMorgan, Phillips 66 Partners And More

Although Dow Jones dipped more than 300 points 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.

Phillips 66 Partners

• The Trade: Phillips 66 Partners LP (NYSE:PSXP) Director David Phillip Bairrington acquired a total of 3280 shares at an average price of $44.46. To acquire these shares, it cost $72,469.80. The insider also sold a total of 1650 shares.
• What’s Happening: Phillips 66 Partners recently declared a Q4 cash distribution of $0.875 per common unit.
• What Phillips 66 Partners Does: Phillips 66 Partners is a master limited partnership that provides fee-based transportation, processing, storage, and fractionation services primarily to Phillips 66, which owns a 74% limited partner interest.

JPMorgan Chase

• The Trade: JPMorgan Chase & Co. (NYSE:JPM) Director Mellody Hobson acquired a total of 2302 shares at an average price of $152.15. To acquire these shares, it cost $350,284.93.
• What’s Happening: JPMorgan Chase recently reported worse-than-expected Q4 sales results.
• What JPMorgan Chase Does: JPMorgan Chase is one of the largest and most complex financial institutions in the United States, with more than $3 trillion in assets.

Limoneira

• The Trade: Limoneira Company (NASDAQ:LMNR) Director Jose de Jesus Loza bought a total of 8791 shares at an average price of 15.02. To acquire these shares, it cost $132,040.82.
• What’s Happening: The company recently posted a wider-than-expected quarterly loss.
• What Limoneira Does: Limoneira Co is an agribusiness company. The company's operating segments include Fresh Lemons; Lemon Packing; Avocados; Other Agribusiness and Corporate and Other. It generates maximum revenue from the Fresh Lemons segment.