North American oil & gas insiders showing caution

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

While Canadian insiders continue to signal that the Energy sector is undervalued, they are being much more cautious in their buying during the current pullback in oil & gas stocks than they were in early winter. The muted response of insiders may be partly explained by trading blackout restrictions. Alternatively, insiders might be content to wait to see how oil markets settle out given the risk of more Iranian crude hitting the market next year on the back of the 6-nation nuclear deal struck in Vienna.

South of the border,  we are paying particular attention to lackluster insider sentiment in the sector. Although our sentiment indicator has been moving up recently, it is not responding as vigorously as we would expect given that the Energy Select Sector SPDR ETF (XLE*US) is making new 52-week lows.

INK US Energy Indicator

 

The rather subdued behaviour of oil and gas insiders on both sides of the border suggests that investors should take a cautious approach towards the group this summer. For contrarians considering the oil & gas area, the five stocks with the most insider direct ownership buying in Canada and the US over the past 60 days are listed below. 

 

Canadian Energy Stocks Most Insider Buying 60-Day (by value)

Issuer Name Symbol $ Amount Volume
Enbridge Income Fund Holdings ENF 541,140.00 15,000
Total Energy Services TOT 527,673.12 33,708
Freehold Royalties FRU 471,000.00 27,000
Northern Power Systems NPS 444,380.01 496,850
Inter Pipeline IPL 282,092.50 9,670

 

US Energy Stocks Most Insider Buying 60-Day (by value)

Issuer Name Symbol $ Amount (000's) Volume (000's)
Kinder Morgan KMI 8,371.43 212
WPX Energy WPX 1,846.59 182.83
Green Plains Partners LP GPP 1,489.59 100.16
Ferrellgas Patners, L.P. FGP 1,361.72 59
Halcon Resources HK 1,034.75 1,000.00

 

This article is not meant to be investment advice. Please read our full disclaimer.

 

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).