$216M Bet On Occidental Petroleum? Check Out These 3 Stocks Insiders Are Buying

Although US stocks closed mixed on Monday, 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 3,666,714 shares an average price of $58.98. To acquire these shares, it cost around $216.24 million.
• What’s Happening: Morgan Stanley maintained Occidental Petroleum with an Equal-Weight and lowered the price target from $71 to $62.
• 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.

RE/MAX Holdings

• The Trade: RE/MAX Holdings, Inc. RMAX 10% owner Magnolia Group LLC acquired a total of 63,755 shares at an average price of $17.34. To acquire these shares, it cost around $1.11 million.
• What’s Happening: RE/MAX filed for mixed-securities shelf offering of up to $350 million.
• What RE/MAX Holdings Does: RE/MAX Holdings Inc operates as a franchisor of real estate brokerage services. It recruits and retains agents and sells franchises.

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Dollar General

• The Trade: Dollar General Corporation DG Director Timothy McGuire bought a total of 3,550 shares at an average price of $202.00. To acquire these shares, it cost around $717.09 thousand.
• What’s Happening: Dollar General reported fourth-quarter FY22 sales growth of 17.9% Thursday ear-on-year to $10.2 billion, missing the analyst consensus estimate of $10.24 million.
• What Dollar General Does: A leading American discount retailer, Dollar General operates over 18,000 stores in 47 states, selling branded and private-label products across a wide variety of categories.

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