Wednesday 10/29 Insider Buying Report: SLB
updated Wednesday, October 29, 12:27 PMAs 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 one noteworthy recent insider buy.
At Schlumberger (SLB), a filing with the SEC revealed that on Monday, Michael E. Marks purchased 3,250 shares of SLB, for a cost of $92.59 each, for a total investment of $300,917. Marks was up about 6.3% on the buy at the high point of today's trading session, with SLB trading as high as $98.40 in trading on Wednesday. Schlumberger is trading up about 1.6% on the day Wednesday.
For MarketNewsVideo.com, I'm Sayoko Murase.