Yahoo Finance Have Insiders Been Buying Suncor Energy Inc. (TSE:SU) Shares This Year?
We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that there are more than a few examples of insiders dumping stock prior to a period of weak performance. So shareholders might well want to know whether insiders have been buying or selling shares in Suncor Energy Inc. (TSE:SU).
Do Insider Transactions Matter?
It is perfectly legal for company insiders, including board members, to buy and sell stock in a company. However, most countries require that the company discloses such transactions to the market.
We don’t think shareholders should simply follow insider transactions. But it is perfectly logical to keep tabs on what insiders are doing. For example, a Columbia University study found that ‘insiders are more likely to engage in open market purchases of their own company’s stock when the firm is about to reveal new agreements with customers and suppliers’.
View our latest analysis for Suncor Energy
Suncor Energy Insider Transactions Over The Last Year
CEO & Director Steven Williams made the biggest insider purchase in the last 12 months. That single transaction was for CA$2.0m worth of shares at a price of CA$36.86 each. That implies that an insider found the current (approximate) price enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company’s future. We generally consider it a positive if insiders have been buying on market, even if the share price has increased a bit since then.
In the last twelve months insiders paid CA$4.0m for 108.98k shares purchased. Overall, Suncor Energy insiders were net buyers last year. They paid about CA$37.12 on average. It’s great to see insiders putting their own cash into the company’s stock, albeit at below the recent share price (CA$45.47). You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
Suncor Energy is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Suncor Energy Insiders Bought Stock Recently
Over the last quarter, Suncor Energy insiders have spent a meaningful amount on shares. Overall, 3 insiders shelled out CA$3.8m for shares in the company — and none sold. That shows some optimism about the company’s future.
Does Suncor Energy Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 0.06% of Suncor Energy shares, worth about CA$41m. 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 Does This Data Suggest About Suncor Energy Insiders?
The recent insider purchases are heartening. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of Suncor Energy we think they are probably pretty confident of a bright future. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Suncor Energy.
Of course Suncor Energy may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
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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. Thank you for reading.
