More Than $582 Million Bet On This Stock? 3 Stocks Insiders are Buying

Although US stocks closed higher on Friday, 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.

Occidental Petroleum

• The Trade: Occidental Petroleum Corporation OXY 10% owner Warren E Buffett acquired a total of 9,887,040 shares at an average price of $58.91. To acquire these shares, it cost around $582.45 million.
• What’s Happening: Warren Buffett's Berkshire Hathaway recently purchased 794,389 shares of the company's stock at an average price of $55.39 per share for a total of approximately $44 million.
• What Occidental Petroleum Does: Occidental Petroleum is an independent exploration and production company with operations in the United States, Latin America, and the Middle East.

NIKE

• The Trade: NIKE, Inc. NKE Director John Rogers Jr acquired a total of 10,000 shares at an average price of $102.96. To acquire these shares, it cost around $1.03 million.
• What’s Happening: The company recently posted upbeat quarterly results.
• What NIKE Does: Nike is the largest athletic footwear and apparel brand in the world. It designs, develops, and markets athletic apparel, footwear, equipment, and accessories in six major categories: running, basketball, soccer, training, sportswear, and Jordan.

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Keurig Dr Pepper

• The Trade: Keurig Dr Pepper Inc. KDP Chief Supply Chain Officer Anthony Maurice Milikin bought a total of 12,979 shares at an average price of $35.75. To acquire these shares, it cost around $464 thousand.
• What’s Happening: Keurig Dr Pepper recently announced plans to acquire global rights to non-alcoholic brand Atypique.
• What Keurig Dr Pepper Does: Keurig Dr Pepper, the product of a 2018 merger between Dr Pepper Snapple and Keurig Green Mountain, is the third-largest nonalcoholic beverage company in North America.