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PrairieSky reported second-quarter average royalty production of 25,992 barrels of oil equivalent a day, up from 19,723 boe/d in Q2 2021. Net earnings were 46 cents per share versus 12 cents a year earlier. It caught our attention that chief executive Andrew Phillips bought after the stock rallied following the second-quarter news. Generally, it can be a positive sign to see insider buying after a stock moves higher following company news. From May 5 to July 20, Mr. Phillips has bought 17,400 shares at an average price of $18.06.

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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.

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