Three Energy Stocks That Insiders Love

Over the past week, several insider purchases took place within the energy sector. Thus, in this article, I will take a look into three companies that saw their insiders buy at least $250,000 in their stock: Natural Resource Partners LP (NYSE:NRP), Global Partners LP (NYSE:GLP) and Noble Corporation (NYSE:NE).

Natural Resource Partners LP (NYSE:NRP) is a $1.67 billion market cap company engaged in the business of owning and managing coal properties in the three coal-producing regions of the United States -namely Appalachia, the Illinois Basin and the Western United States. On June 4, two insiders bought its stock for prices ranging from $13.4334 per share to $13.4699 per share. Corbin J. Robertson III, Board Director, purchased 20,000 shares, for a total price of $268,787. Following these transactions, the insider owns 147,079 shares of Common Stock through diverse indirect holdings, and 1.43 million shares, directly. In addition, Dennis Coker, Vice President at the Aggregates business of the company, acquired 1,000 shares and now owns 2,500 of them.

NRP

Other prominent investors betting on this stock are Jim Simons’ Renaissance Technologies, with 264,855 (by the end of Q1 2014), up 8% in relation to Q4, 2013, and Chuck Royce’s Royce & Associates, with 263,400 shares.

Global Partners LP (NYSE:GLP) is a $1.18 billion market cap midstream logistics and marketing company that saw one insider spend $628,656 on its stock. Between June 3 and June 5, Global GP LLC, Board Director and General Partner, acquired 15,400 common units representing limited partner interests, for prices ranging from $40.63 per share to $41 per share, inclusive. After these transactions, the insider owns 214,616 shares* of the company. The only hedge fund that has declared a long position in the company is, once again Jim Simons’ Renaissance Technologies, which started a position in the company over Q1, with 6,284 shares, worth $230,000.

Noble Corporation (NYSE:NE) is an $8 billion market cap offshore drilling contractor for the oil and gas industry. Over the past week, the company continued to witness insider activity. On June 6, David W. Williams, Chairman, President and CEO, acquired 10,000 shares for $31.03 per share. After spending $310,300 on the company’s stock, the insider owns 390,282 shares of Noble Corp.

In addition to Mr. Williams, several major hedge funds hold millionaire stakes in the company. Amongst them, the largest shareholder is Jeffrey Tannenbaum´s Fir Tree, which last declared owning about 16.9 million shares of the company, up 25% in relation to the previous quarter. This holding, valued at more than $553 million, is the most valuable in the fund’s portfolio, accounting for more than 6% of its total value.

 

* “Global GP LLC is purchasing common units for the purpose of meeting its anticipated obligations to deliver common units under the Global Partners LP Long-Term Incentive Plan (as amended and restated effective June 22, 2012) (“LTIP”) to officers, directors and employees. The reporting person disclaims any pecuniary interest in these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16” (SEC).

 

Disclosure: Javier Hasse holds no position in any stocks mentioned

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!