On March 10, Whitecap Resources Inc. (WCP-T) announced it had entered into a definitive business combination agreement with oil and gas producer Veren Inc. (VRN-T). The stock dropped on the news and insiders have bought the pullback. From March 12-19, eleven insiders bought a total of 215,720 common shares in the public market at an average price of $8.47. The largest buyer was president, director and CEO Grant Fagerheim, who picked up a total of 64,000 shares at an average price of $8.48.
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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.