Our base case for energy stocks is a slow albeit volatile recovery from the December lows given that the number of companies in the sector with key insider buying out-numbers those with selling 3 to 1. Don Gray, one notable oil patch contrarian, has been buying stock at Peyto Exploration & Development Corp. On March 18, the company founder bought 5,000 shares at $35.34. Investor appetite for Peyto shares also appears on the rise. On Wednesday, Peyto announced a bought deal financing to raise $150-million by issuing shares at $34.25.
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.
Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.
