Obsidian Energy is trying to reinvent itself from the days when it was known as Penn West Petroleum. The stock is up about 6 per cent over the past three months, but trails its peers in the S&P/TSX capped energy index, which is up about 10 per cent. While investors may yet to fully buy in to the turnaround story, some insiders already have. Two directors spent a combined $237,377 buying shares in the public market over the past month. The biggest buyer was Stephen Loukas who acquired 150,400 shares at an average price of $1.49.
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.