The directors of a company tend to have a unique inside view into the business, so when directors make major buys, investors are wise to take notice. Presumably the only reason a director of a company would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money - maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by company directors over the trailing six month period, one of which was a total of $104.1K by Charles E. Bunch, Director at ConocoPhillips (Symbol: COP).
Bunch's average cost works out to $52.06/share. In trading on Wednesday, bargain hunters could buy shares of ConocoPhillips (Symbol: COP) and achieve a cost basis lower than Bunch, with shares changing hands as low as $51.58 per share. Shares of ConocoPhillips were changing hands at $51.71 at last check, trading off about 0.5% on Wednesday. The chart below shows the one year performance of COP shares, versus its 200 day moving average:
Looking at the chart above, COP's low point in its 52 week range is $42.27 per share, with $54.22 as the 52 week high point - that compares with a last trade of $51.71.
According to the ETF Finder at ETF Channel, COP makes up 128.97% of the iShares MSCI ACWI ETF (Symbol: ACWI) which is trading higher by about 0.2% on the day Wednesday.
Click here to find out which other top insider buys by company directors you need to know about »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
