Control Empresarial Reports PBF and TALO Purchases

The most significant insider buy on today’s list comes via Form 4 filings by Control Empresarial de Capitales S.A. de C.V.

The Mexico-based investment company disclosed a $13 million acquisition in PBF Energy Inc $PBF and a $10 million purchase in Talos Energy Inc $TALO.

Fredrik Wilhelm Mohn filed a Form 4 reporting a $10.4 million purchase in Transocean $RIG through Perestroika Ltd, a Norwegian investment firm with interests in oil and gas, shipping, and other sectors.

Here’s The Hot Corner, with data from August 5, 2024:

Elliott Investment Management filed a 13D for Southwest Airlines Co $LUV revealing an initial stake of 7.00%.

Mobileye $MBLY CEO and president, Amnon Shashua revealed an acquisition of 631,963 shares, equivalent to $10.4 million in another Form 4.

There was also insider activity in Leidos Holdings $LDOS, Merchants Bancorp $MBIN, Verisk Analytics $VRSK, Matador Resources Company $MTDR and Terex Corporation $TEX.

RIG broke out of a multi-year base in 2022 and ripped higher. However, price has retracted all its gains since and is retesting the breakout level.

Notice how the former resistance level from 2021 and 2022 has turned into support over the past few months.

The line in the sand for RIG lies at 4.75. If we lose this key level, expect further downside.

Stay tuned. We'll be back on Wednesday with more insider activity.

And please reach out with any questions. We love hearing from you!