Tourmaline Oil (TSE:TOU) Insider Mike Rose Buys 2,500 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 2,500 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were purchased at an average price of C$63.70 per share, with a total value of C$159,250.00. Following the transaction, the insider owned 8,090,178 shares in the company, valued at C$515,344,338.60. The trade was a 0.03% increase in their position.

Mike Rose also recently made the following trade(s):

• On Monday, May 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$65.98 per share, with a total value of C$164,950.00.
• On Thursday, May 14th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$65.20 per share, with a total value of C$326,000.00.
• On Friday, May 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Price Performance

TSE:TOU traded up C$0.33 during mid-day trading on Thursday, hitting C$64.13. 705,085 shares of the company’s stock traded hands, compared to its average volume of 2,682,943. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The firm’s 50 day simple moving average is C$64.85 and its 200 day simple moving average is C$63.09. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57. The company has a market cap of C$24.90 billion, a PE ratio of 35.43, a price-to-earnings-growth ratio of 1.72 and a beta of -0.12.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. The firm had revenue of C$1.78 billion during the quarter. Sell-side analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 110.50%.

Analysts Set New Price Targets

TOU has been the topic of several research analyst reports. BMO Capital Markets cut shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Desjardins boosted their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. ATB Cormark Capital Markets lowered their price target on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Finally, Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Tourmaline Oil presently has an average rating of “Moderate Buy” and an average price target of C$71.00.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.