US crude oil futures traded higher this morning on Wednesday. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.
Goldman Sachs Group
- The Trade: The Goldman Sachs Group, Inc. GS Director, Chairman of the Board and CEO David Solomon sold a total of 7,400 shares at an average price of $341.16. The insider received around $2.52 million from selling those shares.
- What’s Happening: Goldman Sachs recently reported better-than-expected Q3 results..
- What Goldman Sachs Group Does: Goldman Sachs is a leading global investment banking firm.
Delta Air Lines
- The Trade: Delta Air Lines, Inc. DAL EVP & Chief People Officer Joanne D Smith sold a total of 2,000 shares at an average price of $34.19. The insider received around $68.38 thousand as a result of the transaction.
- What’s Happening: The company recently posted downbeat quarterly earnings.
- What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.
Have a look at our premarket coverage here .
- The Trade: Exxon Mobil Corporation XOM Vice President Darrin L Talley sold a total of 2,500 shares at an average price of $110.47. The insider received around $276.18 thousand from selling those shares.
- What’s Happening: Exxon Mobil recently reported better-than-expected Q3 results.
- What Exxon Mobil Does: ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2021, it produced 2.3 million barrels of liquids and 8.5 billion cubic feet of natural gas per day.
- The Trade: Halliburton Company HAL Dircetor Katherine Margaret Banks sold a total of 6,000 shares at an average price of $35.49. The insider received around $212.94 thousand from selling those shares.
- What’s Happening: Halliburton recently posted upbeat Q3 earnings.
- What Halliburton Does: Halliburton is one of the three largest oilfield service firms in the world, offering superior expertise in a number of business lines, including completion fluids, wireline services, cementing, and countless others.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.