$49M Bet On Exxon Mobil? Check Out These 4 Stocks Insiders Are Buying

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.

CNA Financial

• The Trade: CNA Financial Corporation CNA 10% owner Loews Corp acquired a total of 4,456,050 shares an average price of $39.29. To acquire these shares, it cost around $175.08 million.
• What’s Happening: CNA Financial posted downbeat quarterly earnings.
• What CNA Financial Does: CNA Financial Corporation (CNAF) is an insurance holding company that provides commercial property and casualty insurance.

Tidewater

• The Trade: Tidewater Inc. TDW Director Robert Robotti acquired a total of 117,698 shares at an average price of $62.28. To acquire these shares, it cost around $7.33 million.
• What’s Happening: Tidewater is expected to release second-quarter earnings of Aug. 8, 2023.
• What Tidewater Does: Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry through the operation of a diversified fleet of marine service vessels.

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Exxon Mobil

• The Trade: Exxon Mobil Corporation XOM Director Jeffrey W Ubben bought a total of 458,000 shares at an average price of $106.93. To acquire these shares, it cost around $48.97 million.
• What’s Happening: Exxon Mobil reported second-quarter revenues of $82.91 billion, beating the consensus of $80.19 billion.
• What Exxon Mobil Does: ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2022, it produced 2.4 million barrels of liquids and 8.3 billion cubic feet of natural gas per day.

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Harley-Davidson

• The Trade: Harley-Davidson, Inc. HOG Director Rafeh Masood bought a total 1,302 shares at an average price of $38.40. The insider spent around $49,997 to buy those shares.
• What’s Happening: Harley-Davidson reported second-quarter HDMC sales decline of 4% Y/Y to $1.20 billion, missing the consensus of $1.29 billion.
• What Harley-Davidson Does: Harley-Davidson is a global leading manufacturer of heavyweight motorcycles, merchandise, parts, and accessories.