How do you make money investing in energy stocks? By the way Baker Hughes director Clarence P. Cazalot Junior did in the past several days.
A Baker Hughes filing with the Securities and Exchange Commission reflected his purchase of 1,028 shares at $11.68 each which figured to a cost of $12,007.
But on the same day of Jan. 18, he also sold 508 shares of company stock valued at $23.65 each for a profit of $12,014.
While the amounts are about the same, Cazalot made the $12,014 with half of the amount of shares he first bought.
Cazalot used to be president and CEO of Marathon Oil where he made $6.5 million a year. He retired in 2012.