Around $29M Bet On This Energy Stock? Check Out These 3 Stocks Insiders Are Buying
$DAL
$NE
$SAIC
Air Freight/Delivery Services
Consumer Discretionary
Oil & Gas Production
Energy
Although U.S. stocks closed higher on Monday, 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.
Noble Corporation
- The Trade: Noble Corporation plc (NYSE:NE) 10% owner APMH Invest A/S acquired a total of 638,018 shares at an average price of $45.32. To acquire these shares, it cost around $28.9 million.
- What's Happening: On July 11, Susquehanna analyst Charles Minervino maintained Noble Corp with a Neutral and lowered the price target from $49 to $47.
- What Noble Does: Noble Corp PLC is an offshore drilling contractor for the oil and gas industry that provides contract drilling services to the international oil and gas industry with its fleet of mobile offshore drilling units.
Science Applications International
- The Trade: Science Applications International Corporation (NASDAQ:SAIC) EVP, CHRO Michelle A. O’Hara acquired a total of 1,000 shares at an average price of $118.00. To acquire these shares, it cost around $118,000.
- What's Happening: On July 10, JP Morgan analyst Seth Seifman maintained Science Applications Intl with a Neutral and lowered the price target from $140 to $132.
- What Science Applications International Does: Science Applications International Corp provides technical, engineering, and enterprise IT services mainly to the U.S. government.
Delta Air Lines
- The Trade: Delta Air Lines, Inc. (NYSE:DAL) Director Willie CW Chiang bought a total of 10,000 shares at an average price of $43.90. To acquire these shares, it cost around $438,967.
- What's Happening: On July 12, Bernstein analyst David Vernon maintained Delta Air Lines with an Outperform and lowered the price target from $66 to $62.
- What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world’s largest airlines, with a network of over 300 destinations in more than 50 countries.
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