Mike Rose Acquires 2,500 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was acquired at an average price of C$61.04 per share, for a total transaction of C$152,600.00. Following the acquisition, the insider directly owned 8,097,678 shares of the company’s stock, valued at C$494,282,265.12. This trade represents a 0.03% increase in their position.

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

• On Friday, June 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$63.70 per share, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$65.98 per share, for a total transaction of C$164,950.00.
• On Thursday, May 14th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$65.20 per share, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$64.60 per share, for a total transaction of C$323,000.00.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$59.45 per share, for a total transaction of C$297,250.00.
• On Wednesday, March 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Trading Down 0.8%

TOU opened at C$60.79 on Wednesday. The firm has a market capitalization of C$23.61 billion, a P/E ratio of 33.59, a P/E/G ratio of 1.72 and a beta of -0.24. The firm’s 50 day moving average is C$63.82 and its 200-day moving average is C$63.29. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14.

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

Tourmaline Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 110.50%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TOU. BMO Capital Markets lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research note on Thursday, May 7th. ATB Cormark Capital Markets dropped their price objective on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, Royal Bank Of Canada decreased their price target on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$71.00.

About Tourmaline Oil

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.