With energy stocks off their recent highs, valuations may become more enticing this summer.
While the depth of the pullback will likely depend on a combination of factors including commodity prices, investors looking to buy into the oil and gas group can use insider activity to help identify potential growth stock candidates.
CanElson Drilling Inc. is one that came across our screens. On July 4, chief operating officer Bill Kosich bought 30,000 shares in the public market at $8.71. On the same day, the stock set a record high of $8.78.
Chart below reflects public-market transactions of common shares or unit trusts by company officers and directors.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
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