Texas's 21st congressional district representative, Chip Roy, has executed several stock transactions, according to a recent congressional trade report. The congressman sold shares in multiple companies, including AT&T Inc. (NYSE:T), Atlas (NYSE:ATCO) Energy Solutions Inc. (NYSE:AESI), Chevron Corporation (NYSE:NYSE:CVX), Energy Transfer LP (NYSE:NYSE:ET), Exxon Mobil Corporation (NYSE:XOM), Kinder Morgan , Inc. (NYSE:NYSE:KMI), and Nustar Energy L.P. (NYSE:NYSE:NS).
Roy sold his entire holdings in Chevron Corporation and Exxon Mobil Corporation, with each transaction valued between $15,001 and $50,000. The sales were executed on April 10, 2024, and notified to the authorities on the same day.
In addition, the congressman partially sold his stake in Atlas Energy Solutions Inc., a transaction that amounted to between $250,001 and $500,000. This transaction was carried out on March 12, 2024, and reported almost a month later on April 10, 2024.
Furthermore, Roy also sold his shares in AT&T Inc., Energy Transfer LP, Kinder Morgan, Inc., and Nustar Energy L.P. Each of these transactions was valued between $1,001 and $15,000. These sales were executed and reported on April 10, 2024.
These transactions come amidst a time of increased scrutiny of congressional stock trades. However, it is important to note that these trades are completely legal and are disclosed in accordance with the STOCK Act, which mandates regular reporting of congressional stock trades.
The recent sales by Chip Roy represent a significant shift in the congressman's portfolio. The impact of these changes on his overall investment strategy remains to be seen. As always, investors are advised to conduct their own research and consider their own investment objectives before making investment decisions.
InvestingPro Insights
As investors scrutinize the stock transactions of Texas's 21st congressional district representative Chip Roy, it's worth noting some key metrics and insights from InvestingPro that could shed light on one of the companies he sold shares in, AT&T Inc. (NYSE:T). With a Market Cap of $116.88B USD, AT&T stands as a significant player in the telecommunications sector. The company's P/E Ratio is currently 12.28, which adjusts to 7.63 when looking at the last twelve months as of Q4 2023, indicating a potentially undervalued stock in comparison to earnings.
AT&T's commitment to shareholder returns is evident through its Dividend Yield of 6.54%, as of the latest data, which is a testament to its ability to maintain consistent dividend payments over an impressive period. This is supported by one of the InvestingPro Tips highlighting that the company has sustained dividend distributions for 41 consecutive years. Such a track record can be particularly attractive to income-focused investors.
Moreover, another InvestingPro Tip suggests that AT&T's valuation implies a strong free cash flow yield, which can be a vital indicator of financial health and the company's ability to sustain and grow its dividend payments. For investors interested in exploring more about AT&T Inc. and gaining further insights, there are additional InvestingPro Tips available at https://www.investing.com/pro/T. By using the coupon code PRONEWS24, investors can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking valuable data that could inform their investment decisions.
The recent actions by Congressman Roy may prompt individual investors to look closer at the companies he has divested from. With the data and tips from InvestingPro, they have access to a robust set of tools to help them assess the potential risks and rewards associated with stocks like AT&T Inc.
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