Trade Tracker: Brian Belski buys Oklo & Check Point and sells Evergy
Brian Belski, Chief Investment Strategist at BMO Capital Markets, joins 'Halftime Report' to detail his latest portfolio moves.
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Yahoo
2 days ago
- Yahoo
Insider buying of Canadian oil and gas stocks at 'some of highest levels we've seen' in 5 years: BMO
Insider stock buying among executives at Canadian oil and gas companies is near five-year highs, according to a BMO Capital Markets analyst who tallied up $54 million in open-market purchases in the 90 days since March 1. Canadian oil and gas stocks have been a rollercoaster ride for investors over the past three months. U.S. President Donald Trump's trade tariffs created unprecedented uncertainty for the industry, which relies on America as its top buyer of crude. At the same time, fears of a weaker economy due to global trade are weighing on forecasts for demand. BMO analyst Jeremy McCrea says $54 million in purchases over 90 days represents 'some of the highest levels we've seen over the past five years,' while demonstrating confidence for stocks at current prices. BMO says Canadian oil and gas company insiders purchased $12 million and $20 million worth of stock, respectively, in the same periods in 2024 and 2023. 'Although there are many reasons why insiders sell (tax implications, restricted stock units, etc.), there is one reason they buy,' McCrea wrote in a note to clients on Wednesday. 'That in turn should help build investor confidence, especially as it relates to investing alongside management, and ultimately, reassurance that there are no 'skeletons in the closet.'' He found the largest purchases by CEOs were from the top executives at PrairieSky Royalty ( Whitecap Resources ( and Tourmaline Oil ( 'The CEO of PrairieSky made one of his largest purchases within the sector, buying 72,000 shares or $1.68 million worth of stock at an average price of about $23.40 per share,' McCrea wrote. 'With the stock trading slightly below that price today, it grants investors the rare opportunity to come in alongside the CEO." According to BMO, Tourmaline CEO Mike Rose recently purchased about $2.21 million worth of his company's stock at an average price of about $63, and has been a regular buyer over the last several years. Whitecap CEO Grant B. Fagerheim reportedly added $1.34 million worth of his company's stock in the last week, following the close of the company's merger with Veren. 'This would also be one of the larger quarterly purchases made by Grant Fagerheim in his role as CEO of Whitecap,' McCrea wrote. Fagerheim has been CEO since 2009. In terms of total buying from insiders, BMO says Obsidian Energy ( ($16.8 million), Peyto Exploration & Development ( ($10.1 million), and Strathcona Resources ( ($7.2 million) were the top companies included in its analysis. Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android.
CNBC
3 days ago
- CNBC
Josh Brown says Tesla investor base doesn't care about Musk-Trump feud: 'I wouldn't bet against it'
Ritholtz Wealth Management CEO Josh Brown said Tesla investors will look past the online feud between Elon Musk and President Donald Trump that led to a sell-off on Thursday. Musk, the CEO of Tesla and a key supporter of Trump during his election, exchanged barbs with the president online on Thursday — a shocking turn given their previous allegiance. Shares of the electric vehicle maker tumbled more than 14% on Thursday, but gained more than 5% in midday trading on Friday. "The drama on Twitter is hilarious. Of course, everyone's having a great time," Brown said on CNBC's "Halftime Report," using the former name for social media platform X. "But I think the real story here is the investor base in Tesla literally doesn't care about anything." TSLA 5D mountain Tesla, 5-day Brown pointed out that Tesla is losing market share in most key areas. However, he said investors have decided to think of the company as a robot and automation name with some artificial intelligence work rather than an electric vehicle maker. Investors think "the car sales are only important insofar as they get us to the robotaxi, which is the next trillion-dollar idea," Brown said. "I don't believe that, but that's what the market believes." Brown called the name a "nothing-matters stock," noting that it trades at 120-times earnings. He said investors may use Thursday's sell-off as a chance to buy on a dip. Shares are now down more than 25% in 2025. "It's just incredible how faithful this shareholder base is," Brown said. "I wouldn't bet against it." All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
Yahoo
3 days ago
- Yahoo
Gas prices fell again in Canada this week; Here's where the discounts are deepest
Gas prices fell 1.1 cents per litre of regular fuel on average in cities across Canada this week, according to data from Kalibrate. The average rate at the pumps is down about 13 per cent year-over-year. This week, Abbotsford, B.C. led the nation with the biggest drop, at 17.9 cents per litre. Victoria and Prince George, B.C. followed with weekly discounts of 11.6 cents and 8.8 cents, respectively. Meanwhile, resumed trade talks between U.S. President Donald Trump and Chinese leader Xi Jinping have helped put the price of oil (CL=F) on track for its first seven-day gain in three weeks. Back in Canada, CEOs and executives at oil and gas firms are loading up on company stock. A report from BMO Capital Markets found insiders purchased $54 million in shares in the 90 days since March 1. Analyst Jeremy McCrea says this is an undeniably bullish signal for investors. 'Although there are many reasons why insiders sell ... there is one reason they buy," he wrote. Follow Yahoo Finance Canada for more weekly gas price updates. Scroll below to find your nearest city. Location May 29 June 5 Price Change Canada Average (V) 143.8 142.7 -1.1 WHITEHORSE 161.9 161.9 0 VANCOUVER* 167 163.8 -3.2 VICTORIA 181.5 169.9 -11.6 PRINCE GEORGE 140.9 132.1 -8.8 KAMLOOPS 152.9 151.2 -1.7 KELOWNA 142.6 142.8 0.2 FORT ST. JOHN 145.4 139.4 -6 ABBOTSFORD 160.8 142.9 -17.9 YELLOWKNIFE 134.9 144.9 10 CALGARY* 131 131 0 RED DEER 134.5 131 -3.5 EDMONTON 130.7 129.6 -1.1 LETHBRIDGE 124.6 126 1.4 LLOYDMINSTER 133.5 128.6 -4.9 GRANDE PRAIRIE 137.9 129.5 -8.4 REGINA* 134.8 133.7 -1.1 SASKATOON 135.6 135.4 -0.2 PRINCE ALBERT 132.3 132 -0.3 MOOSE JAW 135.7 135.7 0 WINNIPEG * 131.7 130.9 -0.8 BRANDON 131.7 128.4 -3.3 CITY OF TORONTO* 135.4 135.2 -0.2 BRAMPTON 134.9 134.9 0 ETOBICOKE 134.9 134.4 -0.5 MISSISSAUGA 134.1 133.8 -0.3 NORTH YORK 135.5 135.4 -0.1 SCARBOROUGH 135 135.1 0.1 VAUGHAN/MARKHAM 135.1 135.3 0.2 OTTAWA 133.2 133.3 0.1 KINGSTON 128.8 122.5 -6.3 PETERBOROUGH 126.8 122.7 -4.1 WINDSOR 133.1 133 -0.1 LONDON 135.5 134.2 -1.3 SUDBURY 138.8 132.9 -5.9 SAULT STE MARIE 128.3 128.3 0 THUNDER BAY 138.3 132.6 -5.7 NORTH BAY 136.8 127.5 -9.3 TIMMINS 144.7 144.7 0 HAMILTON 131.8 131.5 -0.3 ST. CATHARINES 129.8 130.3 0.5 BARRIE 134.5 134.2 -0.3 BRANTFORD 128.4 129.1 0.7 GUELPH 134.8 134.7 -0.1 KITCHENER 133.6 133.4 -0.2 OSHAWA 134.4 134.9 0.5 SARNIA 124.4 124.8 0.4 MONTRÉAL* 159.3 157.8 -1.5 QUÉBEC 155.3 154.4 -0.9 SHERBROOKE 152.3 153.2 0.9 GASPÉ 157.4 157.4 0 CHICOUTIMI 145.5 143.5 -2 RIMOUSKI 151.4 151.4 0 TROIS RIVIÈRES 151.8 154 2.2 DRUMMONDVILLE 150.8 150.8 0 VAL D'OR 159.6 159.6 0 GATINEAU 143.2 141.6 -1.6 SAINT JOHN* 144.2 140.6 -3.6 FREDERICTON 145 141 -4 MONCTON 144.4 140.1 -4.3 BATHURST 142.3 141 -1.3 EDMUNDSTON 144 140.1 -3.9 MIRAMICHI 146.2 142.3 -3.9 CAMPBELLTON 146.3 137.5 -8.8 SUSSEX 143.7 140.9 -2.8 WOODSTOCK 146.2 142.3 -3.9 HALIFAX* 145 141.6 -3.4 SYDNEY 146.9 143.5 -3.4 YARMOUTH 146 142.6 -3.4 TRURO 146.1 142.7 -3.4 KENTVILLE 145.5 142.1 -3.4 NEW GLASGOW 146.1 142.7 -3.4 CHARLOTTETOWN* 150.8 147.3 -3.5 ST JOHNS* 153.5 149.9 -3.6 GANDER 157.3 152.2 -5.1 LABRADOR CITY 160 157.2 -2.8 CORNER BROOK 154.6 150.8 -3.8 GRAND FALLS 157.3 151.2 -6.1 SOURCE: KALIBRATE • All figures in CAD cents (*) Denotes markets used in Volume Weighted Canada Average Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist. Download the Yahoo Finance app, available for Apple and Android. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
