From executives to beneficial owners, insiders are increasingly stepping up to the buy window as we approach the end of the year. Sizable insider purchases of the past week were seen at a Detroit automaker and an insurance giant. Overshadowing them all, however, was a colossal purchase by the Oracle of Omaha, who is bulking up his sizable stake in his favorite oil and gas exploration and production company.

A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price will rise and they want to profit from it. Thus, insider buying can be an encouraging signal for potential investors. This is all the more so during times of uncertainty in the markets, and even when markets are near all-time highs.

Remember that when the earnings-reporting season is in full swing, many insiders are prohibited from buying or selling shares. Below are some of the more notable insider buying that was reported in the past week.

Occidental Petroleum

• Buyer(s): 10% owner Berkshire Hathaway
• Total shares: almost 10.5 million
• Price per share: $55.12 to $57.27
• Total cost: almost $588.7 million

That boosted the stake to over 235.5 million shares. Warren Buffett now owns about 27% of Occidental Petroleum Corp. (NYSE: OXY). The news boosted the stock briefly, but on last look it was only up about 3% for the week to a little over $58. The share price is still more than 7% lower year to date, while the Dow Jones industrials are up more than 12%. Yet, the consensus price target is up at $69.86. (Here are seven Warren Buffett dividend stocks every total return investor should own.)

Prudential

• Buyer(s): 10% owner PGIM Strategic Investments
• Total shares: 2.8 million
• Price per share: $25
• Total cost: $70.0 million

These shares were acquired indirectly and were Class Z common shares. Note that the buyer is a subsidiary of Prudential Financial Inc. (NYSE: PRU). The stock is up about 14% since last month’s mixed third-quarter report. Analysts are cautious, however, with a consensus rating of Hold and a consensus price target that is lower than the current share price.

Madrigal Pharmaceuticals

• Buyer(s): a director
• Total shares: less than 136,400
• Price per share: $205.32 to $230.00
• Total cost: around $30.0 million

Note that this director, Baker Brothers Advisors, is an activist investor, and also that an executive exercised options and sold some shares recently. Madrigal Pharmaceuticals Inc. (NASDAQ: MDGL) recently appointed new chief information and chief commercial officers. Shares were last seen trading near the top of the director’s purchase price range. Analysts on average recommend buying shares, and their consensus price target is up at $315.92.

RumbleON

• Buyer(s): a director and two 10% owners
• Total shares: more than 3.44 million
• Price per share: $5.50
• Total cost: around $18.9 million

These insider buyers were standby purchasers in a rights offering and received class B common shares. RumbleON Inc. (NASDAQ: RMBL) is the largest powersports vehicle retailer in North America, and it appointed a new chief executive and a new interim chief financial officer back in October. The stock is up about 15% since then, with all that gain coming in the past week. The $9.17 consensus price target signals almost 17% more upside potential.

EyePoint Pharmaceuticals

• Buyer(s): 10% owner Cormorant Asset Management
• Total shares: over 588,200
• Price per share: $17
• Total cost: nearly $10.0 million

Shares soared after EyePoint Pharmaceuticals Inc. (NASDAQ: EYPT) reported that its treatment for wet age-related macular degeneration met its primary and secondary endpoints in a Phase 2 trial. The share price was less than $7 before the news. For the second week in a row, this owner acquired shares as other insiders were selling. Shares topped $20 apiece this past week, handily above the owner’s most recent purchase price. The stock is up almost 600% year over year.

Lovesac

• Buyer(s): a director
• Total shares: almost 151,800
• Price per share: $24.89 to $25.81
• Total cost: over $3.8 million

Note that the CEO sold 19,000 shares of furniture maker Lovesac Co. (NASDAQ: LOVE) after this director’s purchase. The share price was last seen almost three bucks higher than the top of the director’s purchase price range. The stock is up about 35% since the recent third-quarter report exceeded expectations, and the $41.40 consensus price target indicates analysts see more than 45% more upside potential.

Terex

• Buyer(s): a director
• Total shares: 50,000
• Price per share: $50.69 to $51.20
• Total cost: over $2.5 million

Better than expected third-quarter results boosted Terex Corp. (NYSE: TEX) shares last month. The stock is up more than 26% in the past month and 37% year over year to $59 or so per share. This insider purchase seems well timed. But the $60.08 consensus price target suggests little upside going forward if analysts don’t boost their targets. Also note that this industrial machinery provider made Newsweek’s 2024 Most Responsible Companies list.

Ford

• Buyer(s): an executive
• Total shares: 182,000
• Price per share: $11.03 to $11.06
• Total cost: around $2.0 million

This Ford Motor Co. (NYSE: F) executive in the electric vehicle (EV) unit picked up some shares at around the same time the company was cutting production of its flagship EV. The share price has risen in the past week to around $12, above the executive’s purchase price range and up from last month’s 52-week low of $9.63. Here too, analysts remain cautious, with a consensus price target of just $12.83.

And Other Insider Buying

In the past week, some insider buying was seen at Alaska Air, Chewy, Disney, Energy Transfer, Global Payments, Keurig Dr Pepper, Topgolf Callaway Brands and Union Pacific as well.

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