RE:RE:RE:Insider Data = Updated this is the reply I got from GXO on Dec 28 about why there is no insider buying:
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there is no insider buying at this point, because we are in a prolonged blackout period, which should be over within a few weeks
But please keep in mind that insiders own 24% of the outstanding shares
We all believe in the company, it’s the very discounted WCS-WTI differential that has then entire Canadian Market up in arms.
The Differential is set for Q4 already, here is the prices:
Oct. = -29.61 USD to WTI
Nov = -46.60 USD to WTI
Dec. = -43.00 USD to WTI
That’s an average of -39.73 USD that is already set to WTI, however WTI is traded and set daily, but so far this Q4 the average price of WTI could settle at $60.20
So that’s $60.20 minus $39.73 = $20.47 x 1.3 FX = $26.61 CAD for a western Canada select bbl….
Not good news for this country at this time. However, we get WCS + ~6.20 CAD, so GXO’s revenue pricing is sitting at ~$32.81 CAD/bbl
The differentials look much better for January, and GXO has very robust hedges to WTI in 34 days (2019).
Does this help? Attached is a recent article from EPAC… Gives a number of shut in production, plus crude by rail is helping to tighten the market with current volumes around 325,000 bbls/d being shipped by rail. Canada needs pipelines, and the Enbridge line 3 expansion will help a lot, and that will be online in less than 12 months.
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