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An oil pumpjack is silhouetted against the sun in Longview, Alta. Surge Energy is close to sealing its $244-million takeover bid for Longview Oil Corp.
An oil pumpjack is silhouetted against the sun in Longview, Alta. Surge Energy is close to sealing its $244-million takeover bid for Longview Oil Corp.
(Larry MacDougal/The Globe and Mail)

Corporate insiders signal trouble ahead for TSX energy sector

Investor sentiment for Canadian oil and gas stocks is running the highest in years, with the S&P/TSX capped energy index at 52-week highs and up more than 22 per cent over the past 12 months.

But there’s one group of investors less than enthusiastic about the energized sector right now: corporate insiders. And that’s worth noting, given that officers and directors who execute trades in the companies they work for tend to be more right on their investment calls than the general population.