Devon presented at a Global Oil & Gas Conference sponsored by UBS on May23. You can hear and read about their outlook what was discussed by clicking on this link to the conference report.
There are a number of other companies whose insiders have been actively buying of late. Windstream (WIN), the telecom and technology solutions company that's trading close to its 52-week low of $9.31, is one of them. CEO Jeff Gardner and CFO Tony Thomas, along with several directors, have all purchased shares in May, according to data on Yahoo! Finance. With its current $1-per-share dividend, Windstream shares are yielding 10.5%
Insiders and investors with deep pockets lalso ike to accumulate shares of Coca-Cola (KO). One insider that's a big buyer of shares is Board Director Barry Diller, who on April 27th purchased more than $20 million worth of Coca-Cola stock (264,000 shares at $76.98 through an indirect purchase).
Diller is now the owner (directly or indirectly) of 3,736,000 shares, an "oh my gosh" big dollar amount (over $276,464,000). Now that's what I call a concentrated position!Here's a 1-year chart of KO, and pay special attention to its 200-day moving average. Investors like Warren Buffett and Diller obviously love this company and its 2.7% dividend. Yet at almost 20 times current earnings, I'd be inclined to wait and see if it doesn't go on sale in the months ahead. OK, one more. If you're looking for a precious metals company with an insider who holds a generous amount of the company's stock, look no further than Hecla Mining (HL). CEO Phillip Baker Jr. was last reported owing over 891,000 shares of his company. There's no evidence he has sold any of the shares, which are currently paying a dividend yield of 2.2% Insiders are generally in a buying and holding mood at a number of other companies as well. With the 10-year treasury bond only yielding 1.72% and a lot of bad news already baked into the stock market, we may learn sooner than later that their patience is suddenly rewarded. Disclosure: At the time of publication, Marc Courtenay was long shares of DVN and HL.
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