Caterpillar Inc. (CAT), ConocoPhillips (COP) and Infinera Corp. (INFN) Insiders Pile Up Shares, Plus Striking Insider Selling at 2 Companies

Major U.S. Shale Producer Registers Some Insider Buying

ConocoPhillips (NYSE:COP) also registered a notable insider purchase a couple of trading sessions ago. Board member Arjun N. Murti snatched up 6,500 shares on Monday at $39.72 apiece. After the recent purchase, Mr. Murti currently owns 19,000 shares.

ConocoPhillips, one of the largest U.S. shale producers, has seen the value of its stock decline by 14% since the start of the year. The independent exploration and production company reported a second quarter net loss of $1.1 billion, compared to a net loss of $179 million recorded a year earlier. This marked the fifth-consecutive quarterly loss for ConocoPhillips (NYSE:COP), mainly owing to depressed crude oil prices. The Houston-based company also posted second quarter revenue of $5.58 billion, a fall of 35% year-over-year and widely missing analysts’ expectations of $6.73 billion. ConocoPhillips also reduced its 2016 capital spending plan by $200 million to $5.5 billion. Donald Yacktman’s Yacktman Asset Management was the owner of 4.30 million shares of ConocoPhillips (NYSE:COP) at the end of the second quarter.

Well-Known Heavy Equipment Maker Witnesses Insider Buying After Lowering Forecast

Caterpillar Inc. (NYSE:CAT) was yet another company that registered insider buying during recent trading sessions. Board member Dennis A. Muilenburg bought 1,930 shares on Friday for $82.75 each, boosting his overall holding to 9,558 shares.

The shares of the heavy equipment maker, best known for its yellow excavators, are up by 20% in 2016. Just recently, Caterpillar Inc. (NYSE:CAT) lowered its full-year sales and profit forecast amid sluggish demand in mining and other industries. The recovery in commodity prices has not translated into increased mining activity or an increase in demand for equipment just yet, as mining companies are presumably trying to strengthen their balance sheets first. The world’s largest construction and mining equipment maker anticipates full-year sales in the range of $40.0 billion-to-$40.5 billion, down from its most recent guidance range of $40 billion-to-$42 billion issued in April. Ray Carroll’s Breton Hill Capital owns 11,900 shares of Caterpillar Inc. (NYSE:CAT) as of the end of the second quarter.

The final page of the article will discuss the insider selling at Knight Transportation and Meredith Corporation.