We follow up last week’s feature with another oil patch name. Today, however, we look at a contrarian situation. Petrus Resources Ltd. PRQ-T is down 18.9 per cent over the past three months as of Oct. 4. Petrus produced 10,492 barrels of oil equivalent per day (30.1-per-cent liquids) in the second quarter. When revising guidance in August, Petrus indicated it was positioned to begin a return of capital to shareholders through dividends and share buy-backs in the fourth quarter. Meanwhile, since Sept. 7, CEO Kenneth Gray has bought 45,000 common shares at an average price of $1.39.
stock
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.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.