We saw widespread energy sector insider buying during the early August selloff. At Imperial Oil Ltd. on Aug. 2, director Robert Olsen picked up 2,000 shares in the public market at $42.50 (U.S.). Mr. Olsen is also an executive at Imperial parent Exxon Mobil Corp. Some other Imperial directors were also buying in the market. Victor Young bought 1,500 shares on Aug. 3 at $40.20 while David Sutherland purchased 5,000 shares at $38.85 six days later. On a combined basis, the three directors have spent $335,980 buying stock this month.
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.