Heavy oil producer Athabasca Oil Corp. ATH-T is up more than 50 per cent over the past year, and insiders appear to be betting the momentum can continue. For 2023, Athabasca Oil expects to produce 34,500 to 36,000 barrels of oil equivalent per day, about 30,000 being heavy oil. It also plans to allocate at least 75 per cent of excess cash flow to shareholders with share buybacks being its preferred vehicle. When the stock dipped below $3.00 last month, three insiders spent a combined $194,826 buying shares in the public market.
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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.