$273M Bet On Occidental Petroleum? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mixed on Tuesday, 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.

Masimo

• The Trade: Masimo Corporation MASI Director, CEO and Chairman of the Board Joe Kiani acquired a total of 6,365 shares an average price of $157.16. To acquire these shares, it cost around $1 million.
• What’s Happening: Masimo posted upbeat quarterly results.
• What Masimo Does: Masimo Corp is a global technology company. The company's segment includes healthcare and non-healthcare.

Occidental Petroleum

• The Trade: Occidental Petroleum Corporation OXY 10% owner Warren E Buffett acquired a total of 4,660,809 shares at an average price of $58.57. To acquire these shares, it cost around $273 million.
• What’s Happening: Mizuho maintained Occidental Petroleum with a Buy and lowered the price target from $79 to $67.
• 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.

Don’t forget to check out our premarket coverage here

Warner Bros. Discovery

• The Trade: Warner Bros. Discovery, Inc. WBD CFO Gunnar Wiedenfels bought a total of 15,000 shares at an average price of $11.22. To acquire these shares, it cost around $168.28 thousand.
• What’s Happening: Barrington Research recently upgraded Warner Bros. Discovery from Market Perform to Outperform and announced an $18 price target.
• What Warner Bros. Discovery Does: Warner Bros. Discovery, the result of combining two large media firms, is one of the largest media firms in the world with tremendous scale and reach.

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Boston Properties

• The Trade: Boston Properties, Inc. BXP Director Carol Einiger bought a total 10,000 shares at an average price of $47.41. The insider spent around $474.1 thousand to buy those shares.
• What’s Happening: Boston Properties recently filed for mixed shelf.
• What Boston Properties Does: Boston Properties owns over 190 properties consisting of approximately 54 million rentable square feet of space.