Over the past week, we have seen some Canadian oil stocks hitting 52-week highs including Suncor Energy Inc. (SU-T). As the stock’s rally built up steam, insiders at the integrated giant were buying. From Aug. 8 to 28, three directors bought a total of 12,796 shares at an average price of $53.61. The largest buyer was board Chairman Russell Girling, who bought 10,000 shares at $53.48 on Aug. 14. In addition, Suncor bought back just over 9 million shares in August at an estimated average price of $54.13 (not shown on chart).
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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.