On Feb. 19 we wrote about positive insider activity at Canadian Natural Resources Ltd. in a note to clients. Since that time, officers and directors have continued to add to their holdings. Although the key executives that we follow have been net sellers of 285,380 shares in the public market, when all transactions such as option exercises are included, they have in fact accumulated 427,084 shares during the period.
Two filings caught our eye. On April 13, director Keith MacPhail bought 12,000 shares at $77.99 in the public market. In addition, director Murray Edwards exercised 200,000 options at $33.38 on April 11 (not shown on chart). He has not subsequently reported selling any shares. Given the volatility in commodity prices, it could be insightful for investors to keep an eye on insider filings at the oil and gas bellwether for clues about industry prospects going forward.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. Investments profiled are from a recent edition of the Morning INK report which is distributed daily to subscribers and clients of select financial institutions. INK staff may hold shares in profiled securities.