In recent months, energy (NYSE:XLE) stocks have been actively trading after a 10% decline in September. With its recent activity in this sector, corporate insiders are beginning to make some purchases of these stocks.
As long time Wall St. Cheat Sheet readers know, ‘Support is Provided By Institutional Investors & Company Insiders’ is the ‘S’ in our CHEAT SHEET investing framework. We like to see company executives buying their own company stock or carrying a sizable investment in their company. Company executives owning a large percentage of shares in their own company means they are more incentivized to perform at a higher level in order to generate the greatest return for their own shares, and consequently your shares too!
Wall St. Watchdog reveals information about insider trades in these eight energy stocks:
Chesapeake Energy Corporation
Six insiders at Chesapeake Energy (NYSE:CHK) bought shares recently. Aubrey Mcclendon, the Chairman and CEO, bought 8,600 shares on August 9 at $29.00 per share for a total value of $249,369. But the largest buy was by Director Louis Simpson who bought 100,000 shares on August 8 at $27.46 per share for a total value of $2,746,070. About the company: Chesapeake Energy Corporation produces oil and natural gas. The Company’s operations are focused on discovering, developing and acquiring conventional and unconventional natural gas reserves onshore in the United States.
First Solar Inc.
Two insiders at First Solar Inc. (NYSE:FSLR) bought shares recently. Mark R. Widmar, Chief Financial Officer, bought 1,000 shares on August 24 at $24.00 per share for a total value of $91,750. On August 22, T.I. Kallenbach, President, Components Business Group, also purchased 1,000 shares at 88.75 per share for a total value of $88,750. About the company: First Solar Inc. designs and manufactures solar modules. The Company uses a thin film semiconductor technology to manufacture electricity-producing solar modules.
Walter Energy, Inc.
Nine insiders recently bought stock at Walter Energy (NYSE:WLT). Director Michael T Kozarkz made the largest purchase. He bought 10,000 shares at $75.00 per share for a total value of $75,000 on August 15. About the company: Walter Energy, Inc. mines coal and produces metallurgical and steam and industrial coal. The Company also manufactures blast furnace, foundry, industrial and buckwheat coke along with producing light oil, coal tar, and ammonium sulfate and degasifies coal beds and sells the gas to a utility.
Arch Coal Inc.
Six insiders recently bought stock at Arch Coal (NYSE:ACI). Paul Lange, Senior Vice President – Operations made the most recent purchase on September 13. He bought 1,000 shares at $19.12 for a total value of $19,120. About the company: Arch Coal, Inc. mines, processes and markets low sulfur coal from surface, underground, and auger mines located in the western United States and in the central Appalachian region. The Company markets its coal primarily to electric utilities.
Two insiders recently bought stock in Inergy (NYSE:NRGY) but President and CEO John Sherman made two purchases during the same week: 2,700 shares at $26.42 for a total value of $71,334 on August 26 and on August 29, he bought 2,300 shares at $27.24 for a total value of $62,652. About the company: Inergy, L.P. is an energy infrastructure and distribution company. The Company operates a retail and wholesale propane supply, marketing and distribution business and a midstream business that includes a natural gas storage business, a liquefied petroleum gas storage business, a natural gas liquids business and a solution-mining and salt production company.