The S&P/TSX Capped Energy Index is off about 30 per cent since its spring peak. As of mid-week, Whitecap Resources Inc. has done relatively better, dropping about 10 per cent since June 8. Whitecap is weighted toward crude (87 per cent in Q2) and reported Q2 funds flow of 19 cents per share, giving it enough room to reduce debt and look at acquisitions. As we wait to see if the stock can overtake its 200-day moving average, chief executive officer Grant Fagerheim has spent $165,966 buying shares in the past month betting that it can.
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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