$21M Bet On Comstock Resources? Check Out These 3 Stocks Insiders Are Buying

Although U.S. stocks closed lower 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.

Comstock Resources

• The Trade: Comstock Resources, Inc. CRK 10% owner Jerral W. Jones acquired a total of 2,476,736 shares at an average price of $8.49. To acquire these shares, it cost around $21.03 million.
• What's Happening: On July 30, Comstock Resources posted worse-than-expected second-quarter financial results.
• What Comstock Resources Does: Comstock Resources Inc is an independent energy company operating in the Haynesville shale, a natural gas basin located in East Texas and North Louisiana with superior economics and geographical proximity to the Gulf Coast markets.

Intel

• The Trade: Intel Corporation INTC CEO Patrick P Gelsinger acquired a total of 12,500 shares at </em></a> an average price of $20.16. To acquire these shares, it cost around $251,946.
• What's Happening: Intel is set to slash its workforce after receiving billions of dollars from the federal government.
• What Intel Does: Intel is a leading digital chipmaker, focused on the design and manufacturing of microprocessors for the global personal computer and data center markets.

PBF Energy

• The Trade: PBF Energy Inc. PBF 10% owner Control Empresarial de Capitales S.A. de C.V. bought a total of 150,000 shares at an average price of $35.84. To acquire these shares, it cost around $5.4 million.
• What's Happening: On Aug. 1, PBF Energy posted a wider-than-expected quarterly loss.
• What PBF Energy Does: PBF Energy Inc is an independent petroleum refiner and supplier of unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants, and other petroleum products in the United States.

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