Since their lows on April 10, energy shares have led the market higher. Insider buying has generally been strong in the sector and suggests a bottom may be in. That said, not all oil and gas stocks have been weak. DeeThree Exploration stock is up 74 per cent over the past six months. Despite the rise, insiders have been buying after new production guidance was released in late March. In April, four insiders have bought a total of 358,400 shares in the public market at an average price of $4.48.
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.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.