Tuesday 11/18 Insider Buying Report: NGL, COP
updated Tuesday, November 18, 12:17 PMBargain 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 two noteworthy recent insider buys.
At NGL Energy Partners LP (NGL), a filing with the SEC revealed that on Thursday, Chief Executive Officer H. Michael Krimbill bought 20,000 shares of NGL, for a cost of $31.66 each, for a total investment of $633,128. So far Krimbill is in the green, up about 7.9% on their buy based on today's trading high of $34.15. NGL Energy Partners LP is trading up about 1% on the day Tuesday.
And also on Thursday, Executive Vice President Al J. Hirshberg bought $629,550 worth of ConocoPhillips (COP), buying 9,000 shares at a cost of $69.95 each. This purchase marks the first one filed by Hirshberg in the past twelve months. ConocoPhillips is trading up about 0.2% on the day Tuesday. So far Hirshberg is in the green, up about 2.9% on their purchase based on today's trading high of $71.97.
For MarketNewsVideo.com, I'm Sayoko Murase.