Savvy Stock Moves Help Chip Roy in Dodging Losses With Precision
Currently in his third term and representing Texas's 21st Congressional District, Representative Chip Roy recently disclosed substantial stock sales in the energy and communication sectors.
Before his current role, Rep. Roy served in several prominent positions, including as First Assistant Attorney General of Texas and as a federal prosecutor. His diverse background encompasses experience in investment banking and advising noteworthy political figures like Senator Ted Cruz and Governor Rick Perry.
Recently, in his first-ever disclosure as a congressman, Rep. Roy reported selling stocks in various companies within the energy and communication sectors in the months of March and April. Notably, he divested shares in Kinder Morgan Inc. (KMI:US), NuStar Energy LP (NS:US), and Energy Transfer LP (ET:US), each valued between $1,000 and $15,000, along with holdings in AT&T Inc. (T:US).
What's interesting is the fact that all the above-mentioned issuers are currently trading at lower values compared to the time of sale. Since the transactions were executed, Kinder Morgan's stock has declined by over 3%, NuStar has dropped by more than 5%, Energy Transfer's shares trade more than 4.5% lower, and AT&T shares are also down by over 4%.
Furthermore, Mr. Roy also sold significant shares in Chevron Corp. (CVX:US) and Exxon Mobil Corp. (XOM:US), valued between $15,000 and $50,000 each, which are also trading more than 4% and 3% lower, respectively, compared to the sale price.
Lastly, Rep. Roy offloaded shares of Atlas Energy Solutions Inc. (AESI:US) within the range of $250,000 to $500,000, indicating substantial divestment in this particular company. It's noteworthy that this sale trade resulted in saving the congressman from his largest loss, as Atlas's stock has fallen by more than 8% since the sale.
Now whether these are timely performed divestments or just a stroke of good fortune, one can not tell for sure. But if these are calculated moves, then these divestments represent the immaculate financial acumen of the congress member.
These disclosures provide insight into Rep. Roy's trading strategy and financial portfolio, contributing to the transparency expected of public officials.
