Monday’s Insider Report: CEO invests over $500,000 in this energy stock after a dividend hike

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.

The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.

Listed below is a stock that has had recent buying activity in the public market reported by an insider.

Tourmaline Oil Corp. (TOU-T)

Between May 5-11, founder, chairman, president, and chief executive officer Mike Rose invested over $569,000 in shares of Tourmaline. He acquired a total of 10,000 shares at an average cost per share of approximately $56.93 for an account in which he has control or direction over (Rose Foundation), increasing this specific account’s holdings to 425,000 shares.

Mr. Rose holds over 8 million shares in a different account.

On May 3, management announced a 4-per-cent dividend increase, raising its quarterly dividend to 26 cents per share from 25 cents per share. In addition, the company declared a special dividend of $1.50 per share to be paid on May 19 to holders of record as of May 11.

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Listed below are two stocks that have had recent selling activity in the public market reported by insiders.

Franco-Nevada Corp. (FNV-T)

On May 5, vice-president – technical Phil Wilson exercised his options, receiving a total of 9,000 shares at an average cost per share of approximately $64.23, and sold 9,000 shares at an average price per share of roughly $210.68, leaving 14,808 shares in this specific account. Net proceeds totaled more than $1.3 million, not including any associated transaction charges.

Gibson Energy Inc. (GEI-T)

On May 10, senior vice-president and chief operating officer Omar Saif sold 22,678 shares at a price per share of $21.92, after which this particular account held 14,723 shares. Proceeds from the sale totaled over $497,000, excluding commission charges.

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Listed below is a stock that has had both recent buying and selling activity in the public market reported by insiders.

Canadian National Railway Co. (CNR-T)

On May 8, Al Monaco invested nearly $1-million in shares of CN Rail. He acquired 6,110 shares at a cost per share of $163.63, increasing this specific account’s holdings to 8,346 shares.

Mr. Monaco is the former president and chief executive officer of Enbridge Inc. (ENB-T) and was appointed to CN’s board of directors in April.

On May 5, senior vice-president – interline and network development Keith Reardon sold 4,593 shares at a price per share of $162.44, reducing this particular account’s position to 19,504 shares. Proceeds from the sale totaled over $746,000, not including trading fees.

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