EnQuest directors have been buying shares following the completion of the oil and gas explorer and producer's demerger from oil services provider Petrofac yesterday.
Finance director Jonathan Swinney acquired 45,403 shares but it was the non-executives that made the large purchases. Non-executive chairman Dr James Buckee acquired 181,617 shares, as did Robin Pinchbeck. Alexandre Schneiter bought 136,212 shares.
All of the stakes were bought for 109.35p a share. The four directors have invested nearly £600,000 between them.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Pinchbeck already owned 820,000 shares and his stake has increased to 0.13% of the company.
Petrofac shareholders received one EnQuest share for each Petrofac share that they owned.
EnQuest focuses on oil and gas reserves in the UK Continental Shelf. The company's interests include a 27.7% interest in the West Don field, a 60% interest in the Don Southwest field and a 100% interest in the Elke discovery.
As part of the demerger Lundin injected its UK North Sea assets into the company. They include stakes in more mature fields such as Thistle and Deveron.
The EnQuest share price has declined because it will be demoted from the FTSE 100 to the FTSE 250 index.
Top Director Buys
Galliford Try (GFRD) Director name: Mr Greg FitzgeraldAmount purchased: 61,800 @ 323.50p Value: £199,923
EnQuest (ENQ) Director name: Dr James BuckeeAmount purchased: 181,617 @ 109.35p Value: £198,598
EnQuest (ENQ) Director name: Mr Robin PinchbeckAmount purchased: 181,617 @ 109.35p Value: £198,598
EnQuest (ENQ) Director name: Mr Alexandre SchneiterAmount purchased: 136,212 @ 109.35p Value: £148,948
Valiant Petroleum (VPP) Director name: Mr Mark Jonathan LewisAmount purchased: 20,000 @ 673.00p Value: £134,600
Cookson Group (CKSN) Director name: Mr Nick SalmonAmount purchased: 22,462 @ 587.96p Value: £132,068
Cookson Group (CKSN) Director name: Mr Francois WanecqAmount purchased: 16,221 @ 587.96p Value: £95,373
Cookson Group (CKSN) Director name: Mr Mike ButterworthAmount purchased: 13,631 @ 587.96p Value: £80,145
32Red (TTR) Director name: Mr John HodgsonAmount purchased: 315,000 @ 15.90p Value: £50,085
EnQuest (ENQ) Director name: Mr Jonathan SwinneyAmount purchased: 45,403 @ 109.35p Value: £49,648
Top Director Sells
Brady (BRY) Director name: Dr Robert M BradyAmount sold: 1,800,000 @ 69.00p Value: £1,242,000
Hiscox (HSX) Director name: Mr Stuart J BridgesAmount sold: 236,739 @ 337.63p Value: £799,302
Avocet Mining (AVM) Director name: Mr Jonathan HenryAmount sold: 250,000 @ 119.00p Value: £297,500
JD Wetherspoon (JDW) Director name: Mr John HutsonAmount sold: 20,000 @ 516.80p Value: £103,360
Hiscox (HSX) Director name: Mr Stuart J BridgesAmount sold: 11,000 @ 340.84p Value: £37,492
Hyder Consulting (HYC) Director name: Mr Russell DownAmount sold: 4,081 @ 250.00p Value: £10,202
Hyder Consulting (HYC) Director name: Mr Russell DownAmount sold: 4,081 @ 250.00p Value: £10,202
-
Water companies blocked from using customer money to pay “undeserved” bonusesThe regulator has blocked three water companies from using billpayer money to pay £1.5 million in exec bonuses
-
Will the Bitcoin price hit $100,000?With Bitcoin prices trading just below $100,000, we explore whether the cryptocurrency can hit the milestone.
