Over $26M Bet On Exxon Mobil? Check Out These 4 Stocks Insiders Are Buying

Although U.S. stocks closed mixed on Wednesday, 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.

Energy Transfer

• The Trade: Energy Transfer LP ET Executive Chairman Kelcy Warren acquired a total of 1,000,000 shares an average price of $13.53. To acquire these shares, it cost around $13.53 million. The company’s EVP & Pres. LNG also bought 7,500 shares.
• What’s Happening: Energy Transfer posted downbeat earnings for the third quarter.
• What Energy Transfer Does: Energy Transfer owns a large platform of crude oil, natural gas, and natural gas liquid assets primarily in Texas and the U.S. midcontinent region.

Exxon Mobil

• The Trade: Exxon Mobil Corporation XOM Director Jeffrey W Ubben acquired a total of 250,000 shares at an average price of $105.97. To acquire these shares, it cost around $26.49 million.
• What’s Happening: UBS recently maintained Exxon Mobil with a Buy and lowered the price target from $143 to $142.
• 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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Keurig Dr Pepper

• The Trade: Keurig Dr Pepper Inc. KDP Chief Operating Officer Timothy Cofer bought a total of 100,000 shares at an average price of $31.17. To acquire these shares, it cost around $3.12 million.
• What’s Happening: Keurig Dr Pepper reported third-quarter FY23 sales growth of 5.1% year-on-year to $3.81 billion, beating the analyst consensus estimate of $3.768 billion.
• What Keurig Dr Pepper Does: Keurig Dr Pepper was established in 2018 following a merger between Keurig Green Mountain Coffee and Dr Pepper Snapple.

Air Products and Chemicals

• The Trade: Air Products and Chemicals, Inc. APD Chairman, Pres. and CEO Seifi Ghasemi bought a total of 10,000 shares at an average price of $252.34. The insider spent around $2.52 million to buy those shares.
• What’s Happening: Air Products & Chemicals reported mixed fourth-quarter financial results and issued guidance.
• What Air Products and Chemicals Does: Since its founding in 1940, Air Products has become one of the leading industrial gas suppliers globally, with operations in 50 countries and 19,000 employees.

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