The largest Insider Buys this week were for Lowe's Companies Inc. (LOW, Financial), Energy Transfer LP (ET, Financial), Occidental Petroleum Corp. (OXY, Financial), and MGM Resorts International (MGM, Financial).
Lowe's Companies Inc. (LOW, Financial): EVP, Supply Chain Donald Frieson bought 2,030 shares
EVP, Supply Chain Donald Frieson bought 2,030 shares of LOW stock on June 19 at the average price of $98.69. The price of the stock has increased by 2.18% since.
Lowe's Companies Inc. is an American international retail company that specializes in home improvement products and services. The company operates a chain of retail stores in the United States, Canada, and Mexico. The company has a market capitalization of $78.95 billion, and as of June 21 it traded at $100.84.
On May 22 Lowe's Companies Inc. reported first quarter 2019 results for the period ended May 3, 2019. Net earnings for the quarter was $1 billion compared to net earnings of $988 million for same quarter prior year. Diluted earnings per share was $1.31 for the quarter compared to diluted earnings per share of $1.19 for the same quarter prior year.
Energy Transfer LP (ET, Financial): Director Michael K. Grimm bought 3,888 shares
Director Michael K. Grimm bought 3,888 shares of ET stock on June 14 at the average price of $14.14. The price of the stock has increased by 1.98% since.
Energy Transfer LP is an American natural gas and propane pipeline transport company. The company is part of the Fortune 500 and is the parent company of Dakota Access LLC. In October of 2018 the company’s name was changed to Energy Transfer LP after its merger with Energy Transfer Equity. The company has a market capitalization of $37.78 billion, and as of June 21 it traded at $14.42.
On May 8 Energy Transfer LP reported first quarter 2019 results. Net income for the quarter was $870 million while adjusted EBITDA was at a record $2.8 billion, an increase of 40% from the prior year first quarter. Distributable cash flow was at a record $1.66 billion, a 39% increase from the same quarter prior year. The distribution ratio for the quarter was 2.07x, yielding excess coverage of $856 million of distributable cash flow.
Occidental Petroleum Corp. (OXY, Financial): SVP & CFO Cedric W. Burgher bought 4,100 shares
SVP & CFO Cedric W. Burgher bought 4,100 shares of OXY stock on June 13 at the average price of $49.61. The price of the stock has increased by 2.02% since.
Occidental Petroleum Corp. is an American international oil and gas exploration and production company. The company has operations in the United States, the Middle East, and Latin America and is engaged in petrochemical manufacturing in the United States, Canada, and Chile. The company was the 9th largest petroleum producer in Texas in 2018. The company has a market capitalization of $37.87 billion, and as of June 21 it traded at $50.61.
On May 9 Occidental Petroleum Corp. announced that it has entered into a definitive agreement to acquire Anadarko Petroleum Corporation for $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock. The transaction is valued at $57 billion, including the assumption of Anadarko’s debt.
MGM Resorts International (MGM, Financial): Director Keith A. Meister bought 338,374 shares
Director Keith A. Meister bought 338,374 shares of MGM stock on June 20 at the average price of $27.84. The price of the stock has decreased by 0.5% since.
MGM Resorts International is an American international hospitality and entertainment company that operates resorts in Las Vegas, Detroit, Mississippi, Maryland, and New Jersey. The company’s resorts include Bellagio, Mandala Bay, MGM Grand, and The Mirage. The company also has a majority interest in MGM China Holdings Limited, which owns the MGM Macau resort. The company has a market capitalization of $14.88 billion, and as of June 21 it traded at $27.70.
On May 28 MGM Resorts International was honored at the 12th annual Sports Business Awards as the “Breakthrough of the Year” recipient by the Sports Business Journal and Sports Business Daily, a division of Street and Smith’s. The award was presented to the company at the Sports Business Awards Ceremony in New York. MGM Resorts International was recognized for its excellence and outstanding achievement in the business of sports during the year of 2019.
For the complete list of stocks that were bought by their company executives, go to: Insider Trades.
Disclosure: I do not own stock in any of the companies mentioned in the article.
