The Executive Vice President of Downstream of Suncor Energy Inc. (TSE:SU), Kris Smith, Just Bought 28% More Shares
Investors who take an interest in Suncor Energy Inc. (TSE:SU) should definitely note that the Executive Vice President of Downstream, Kris Smith, recently paid CA$29.32 per share to buy CA$249k worth of the stock. That's a very decent purchase to our minds and it grew their holding by a solid 28%.
Check out our latest analysis for Suncor Energy
The Last 12 Months Of Insider Transactions At Suncor Energy
CEO, President & Director Mark Little made the biggest insider purchase in the last 12 months. That single transaction was for CA$391k worth of shares at a price of CA$38.07 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being CA$25.90). Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
In the last twelve months Suncor Energy insiders were buying shares, but not selling. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Suncor Energy is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of Suncor Energy
Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. It appears that Suncor Energy insiders own 0.06% of the company, worth about CA$23m. 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 Suncor Energy Insider Transactions Indicate?
The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. Given that insiders also own a fair bit of Suncor 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. Case in point: We've spotted 3 warning signs for Suncor Energy you should be aware of.
But note: Suncor Energy may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
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.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.
