ConocoPhillips has had some major insider trading in the early second quarter of 2024. We love watching insiders and congressman over energy committees invest in oil companies. There are some major insiders that are buying oil.
While insider buying is not reason alone to invest in a company, it is one of the most successful indicators we have seen. To do our due diligence, we took a look at discounted cash flow models, financial health and fundamental data to determine the strength of this stock.
Based on financial data, ConocoPhillips is a discount right now. Their earnings are much better than what there stock sells at. Already, we are seeing a buying trend sweeping into this stock as the market realizes its worth. The insider trading points to even bigger reasons that revenue may increase (new government contracts from the congressman who bought in?) even more.
Multiple reasons for jumping in give us a larger multiplier for projected growth. In short, this is a stock we see skyrocketing with oil prices.
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