Over $40M Bet On PBF Energy? Check Out These 4 Stocks Executives Are Buying
Author: Avi Kapoor | September 06, 2024 08:59am
Although U.S. stocks closed mixed 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.
PBF Energy
- The Trade: PBF Energy Inc. (NYSE:PBF) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 1,210,000 shares at an average price of $33.25. To acquire these shares, it cost around $40.2 million.
- What's Happening: PBF Energy will release its earnings results for the third quarter 2024 on Thursday, Oct. 31.
- What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.
Talos Energy
- The Trade: Talos Energy Inc. (NYSE:TALO) 10% owner Control Empresarial de Capitales S.A. de C.V. acquired a total of 2,397,000 shares at an average price of $11.08. To acquire these shares, it cost around $26.5 million.
- What's Happening: The company disclosed that its Ewing Bank 953 well has successfully discovered commercial quantities of oil and natural gas.
- What Talos Energy Does: Talos Energy Inc is an independent oil and gas company predominantly involved in offshore exploration and production.
Cognex
- The Trade: Cognex Corporation (NASDAQ:CGNX) SVP, Chief Financial Officer Dennis Fehr bought a total of 6,570 shares at an average price of $38.04. To acquire these shares, it cost around $249,920.
- What's Happening: On July 31, Cognex reported mixed second-quarter financial results.
- What Cognex Does: Cognex Corp provides machine vision products that help automate manufacturing processes.
Lululemon Athletica
- The Trade: Lululemon Athletica Inc. (NASDAQ:LULU) CEO Calvin McDonald bought a total of 4,000 shares at an average price of $260.00. The insider spent around $1.04 million to buy those shares.
- What's Happening: On Aug. 29, Lululemon Athletica reported better-than-expected second-quarter EPS results.
- What Lululemon Athletica Does: Lululemon Athletica designs, distributes, and markets athletic apparel, footwear, and accessories for women, men, and girls.
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Posted In: CGNX LULU PBF TALO
