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Investors who take an interest in Topaz Energy Corp. (TSE:TPZ) should definitely note that the VP of Finance & CFO, Cheree Stephenson, recently paid CA$15.66 per share to buy CA$176k worth of the stock. That's a very solid buy in our book, and increased their holding by a noteworthy 19%.
The Last 12 Months Of Insider Transactions At Topaz Energy
In the last twelve months, the biggest single purchase by an insider was when Chairman Michael Rose bought CA$1.9m worth of shares at a price of CA$13.00 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$16.67. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
Over the last year, we can see that insiders have bought 335.94k shares worth CA$4.6m. But they sold 20.00k shares for CA$282k. In the last twelve months there was more buying than selling by Topaz Energy insiders. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Does Topaz Energy Boast High Insider Ownership?
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Topaz Energy insiders own 1.7% of the company, worth about CA$35m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Do The Topaz Energy Insider Transactions Indicate?
It's certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of Topaz Energy we think they are probably pretty confident of a bright future. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. You'd be interested to know, that we found 2 warning signs for Topaz Energy and we suggest you have a look.
Of course Topaz Energy may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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