Today, we visit a momentum situation in the oil patch. Whitecap Resources Inc. WCP-T is up 27.3 per cent over the past three months as of Sept. 27. Meanwhile, from July 31 to Sept. 25, CEO Grant Fagerheim bought 25,900 shares at an average price of $10.83. On Aug. 2, a director also bought 10,000 shares at $10.55. In the second quarter, Whitecap produced 147,166 barrels of oil equivalent a day (66.7-per-cent liquids) and on Aug. 31, it announced a 26-per-cent increase to its monthly dividend to $0.73 (annualized) a share.
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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.
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Ted Dixon