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A Canadian Natural Resources pump jack is seen in this file photo. The company announced a number of executive moves Tuesday.© Todd Korol / Reuters/The Globe and Mail

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over. The article features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock's valuation; perhaps an insider needs to raise money for personal reasons. An insider's total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company's shares or units.

Let's begin the report featuring a company that has had recent insider buying activity.

CCL Industries Inc. (CCL.B-T)

On Dec. 21, Director Vincent Galifi (who is also the Chief Financial Officer at Magna International) purchased 1,000 shares of CCL Industries at an average cost per share of $58.00, lifting his portfolio's holdings to 1,200 shares.

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The following two companies have had selling activity reported by insiders.

Canadian Natural Resources Ltd. (CNQ-T)

On Dec. 27, Darren Fichter, Executive Vice-President – Canadian Conventional, exercised his options and sold the corresponding number of shares (5,000) at an average price per share of $44.59. Earlier in the month, on Dec. 13, he exercised his options and sold the corresponding number of shares (4,000) at an average price per share of $43.95. His account held 46,998 shares after these trades were completed.

On Dec. 22, Betty Yee, Vice-President – Land, sold 1,575 shares at an average price per share of $44.36. Prior to that, on Dec. 13, she disposed of 1,575 shares at an average price per share of $43.43. Her remaining portfolio balance stood at 77,709 shares.

Last month, we reported sales by two other management executives.

On Dec. 18, the company's Chief Operating Officer Tim McKay exercised his options and sold the corresponding number of shares (40,000). His remaining portfolio balance is a significant holding of over 1.15-million shares.

On Dec. 14, Bill Peterson, Senior Vice-President – Development Operations, exercised his options and sold the corresponding number of shares (10,000) at an average price per share of $42.91, leaving 69,690 shares in his account.

Enghouse Systems Ltd. (ENGH-T)

Between Dec. 20 and Dec. 28, Chairman and Chief Executive Officer Stephen Sadler sold a total of 35,600 shares at an average price per share above $60, trimming his large account position to 4,398,000 shares.

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The following company has had mixed trading with both buying and selling activity reported by insiders.

Canopy Growth Corp. (WEED-T)

On Dec. 22, the company's President Mark Zekulin exercised his options and sold the corresponding number of shares (50,000) at an average price per share of $23.3149, trimming his portfolio's position to 234,415 shares.

On Dec. 20, Chairman and Chief Executive Officer Bruce Linton sold 150,300 shares at an average price per share of $20.2315 for an account in which he has indirect ownership (HBAM Holding Inc.). The prior week, on Dec. 14, he sold 49,700 shares in this account. After these two transactions, the account held 2,566,225 shares.

During the month of December, Chief Operating Officer Olivier Dufourmantelle exercised his options and divested the corresponding share count (175,000), eliminating his portfolio's position.

Last month, we reported that Peter Stringham, who sits on the board of directors, purchased 5,000 shares at an average price per share just below $20 on Dec. 12. Days prior, on Dec. 6, he acquired 2,500 shares at an average price per share of $18.46, initiating a portfolio position.

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