Energy insiders pump up their holdings after the Fed

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Two days after the Bank of Japan and Federal Reserve meetings, three Energy stocks top the list in terms of beneficial ownership dollar buying among insiders. Using the screening function in CIA Interactive, I filtered to see which issuers between September 21st and 22nd had the most insider beneficial ownership (types D and I) buying in the public market (code 10).


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Here are the top 5 stocks on the list based on dollar amount:

  1. Suncor (SU)
  2. Toscana Energy Income (TEI)
  3. Bellatrix Exploration (BXE)
  4. Mediagrif Interactive Technologies (MDF)
  5. Sabina Gold & Silver (SBB)

With central banks out of the way for now, perhaps we are starting to see an increase in Energy stock bargain hunting. Although I remain skeptical that we have seen a turning point in Canadian oil & gas insider sentiment, if the trend continues it could be time to reassess my current agnostic view towards the sector.

One reason why I am still not broadly excited about the Energy sector is continued relative scarcity of stocks in the group with a sunny INK Edge outlook. In fact, the three Energy stocks on the list are either unranked or have a mixed outlook. Mediagrif Interactive and Sabina Gold & Silver are the only stocks on the list with sunny outlooks.

I repeated the screen for US stocks, and the result was a mixed bag. None of the five stocks with the most insider buying had a sunny outlook. Indeed, the first one to show up with a sunny outlook was the seventh stock on the list, Community Healthcare Trust (CHCT*US). With a 6.8% prospective yield, it is a name that yield hunters might appreciate, particularly given that the Fed has more or less said hunting season remains open. 

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