Friday 2/7 Insider Buying Report: MUR, INR
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Murphy Oil, a filing with the SEC revealed that on Wednesday, Director Claiborne P. Deming bought 100,000 shares of MUR, for a cost of $26.51 each, for a total investment of $2.65M. So far Deming is in the green, up about 2.2% on their purchase based on today's trading high of $27.10. Murphy Oil Corp is trading up about 3% on the day Friday.
And at Infinity Natural Resources, there was insider buying on Monday, by Sarah James who bought 2,500 shares at a cost of $20.00 each, for a total investment of $50,000. Infinity Natural Resources is trading up about 1.4% on the day Friday. James was up about 4.9% on the purchase at the high point of today's trading session, with INR trading as high as $20.99 in trading on Friday.
VIDEO: Friday 2/7 Insider Buying Report: MUR, INR