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Insiders Are Buying ARC Resources
Posted by: Markus Aarnio (IP Logged)
Date: September 27, 2013 04:51PM
One energy company has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
The stock is purchased by three or more insiders within one month.
The stock is sold by no insiders in the month of intensive purchasing.
At least two purchasers increase their holdings by more than 10%.
ARC Resources (TSX:ARX) engages in the acquisition, development, exploration and production of oil and gas in Western Canada.
Insider Buying During the Last 30 Days
Here is a table of ARC Resources' insider-trading activity by calendar month.
There have been 120,753 shares purchased and there have been zero shares sold by the insiders since April 2013.
ARC Resources reported the second-quarter financial results on Aug. 1 with the following highlights:
ARC expects third quarter 2013 production to decline relative to the second quarter, prior to increasing in the fourth quarter of 2013 as new pad wells are brought on production at Ante Creek. ARC expects 2013 full year production to average between 93,000 and 97,000 boe per day.
ARC Resources' competitors include Pengrowth Energy (TSX:PGF), Baytex Energy (TSX:BTE) and Lightstream Resources (TSX:LTS).
Here is a table of these competitors' insider-trading activities during the last six months.
Only ARC Resources has seen intensive insider buying during the last 30 days.
There have been eight different insiders buying ARC Resources and there have not been any insiders selling ARC Resources during the last 30 days. Six of these eight insiders increased their holdings by more than 10%.
There are seven analyst buy ratings, 10 neutral ratings and one sell rating with an average target price of $29.24. ARC is paying $0.10 monthly dividends, which gives the stock a dividend yield of 4.6%. ARC's proved plus probable reserves are 607 mmboe. I believe the stock could be a good pick from the current price level based on the intensive insider buying.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Stocks Discussed: TSX:ARX, TSX:PGF, TSX:BTE, TSX:LTS,
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