Canadian investors may have noticed that energy companies have begun to rebound, due in large part to rising commodity prices which have reshaped the long term outlook of investors in a positive way.
Firms that support the energy sector have likewise seen valuations increase as investors become increasingly bullish about the long term prospects of such firms as capital expenditure budgets for operators continues to climb.
Canadian energy services company Total Energy Services Inc. (TSX:TOT) has seen its stock price lag the overall sector in recent months, despite the uptick in energy prices, due in part from underperformance relative to its peers.
That being said, insiders within the company have continued to build strong positions in the firm, indicating a bullish perspective among those with an inside track into the company’s operations and long-term outlook.
Recently, Total Energy’s CEO Daniel Halyk purchased an additional 5,000 shares for his individual portfolio, brining his total holdings up to 535,000 shares. This position is substantial, and represents the aforementioned optimism among many close to the company.
As always, a reminder that insider selling is in no way an indication of the direction a stock is expected to move in the near-term, and long-term investors should assess the fundamentals of said company and consult an investment advisor before making any purchases.
Invest wisely, my friends.
