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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 June 6-13, president, chief executive officer and chairman Mike Rose invested over $546,000 in shares of Tourmaline. He acquired a total of 7,100 shares at an average price per share of approximately $76.95 for two accounts. After these transactions, one account held 8,774,973 shares, while the other account held 29,755 shares.

Tourmaline is the largest natural gas producer in Canada. Management forecasts 2022 production to be between 500,000 and 510,000 barrels of oil equivalent per day.


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

Bonterra Energy Corp. (BNE-T)

Between June 2-10, William Oberndorf, with an ownership position exceeding 10 per cent, sold a total of 466,038 shares for an account in which he has control or direction over (Bill and Susan Oberndorf Foundation). Of the 466,438 shares sold, 321,738 shares were sold at an average price per share of $12.72 with proceeds totaling over $4-million, excluding commission charges. The remaining 144,700 shares were sold at an average price per share of US$10 with proceeds exceeding US$1.4-million, not including trading fees. After these transactions, this particular account held 3,472,286 shares.

Canadian Pacific Railway Ltd. (CP-T)

On June 3, vice-president, human resources and chief culture officer Chad Rolstad sold 1,342 shares at an average price per share of approximately US$74.85, trimming this specific account’s holdings to 842 shares. Proceeds from the sale totaled over US$100,000, excluding trading fees.

Vermilion Energy Inc. (VET-T)

On May 7, vice-president of European operations Gerard Schut divested 10,000 shares at a price per share of $30, trimming this particular account’s position to 88,609 shares. Proceeds from the sale totaled $300,000, excluding trading fees.

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