Spartan Delta Corp T.SDE

Ink Research

[retiredcf]

December 19, 2022 - After dominating the Canadian market for much of 2022, the Energy sector has been taking a beating over the past month with the S&P/TSX Capped Energy Index falling 12%. Insiders at oil & gas exploration companies have been buying the pullback. The INK Oil & Gas Exploration and Production Indicator has shot up to 118%. At that level there are nearly 1.2 stocks with key insider buying for every one stock with selling over the past 60 days. The indicator is nearly double where it was a month ago at 65%. That is good news for energy bulls as it supports the idea that much of the recent weakness in crude prices can likely be explained by seasonal or one-time factors such as uncertainty around the G7 price cap. In terms of natural gas, insiders show little sign of giving up on the bull story for the commodity.