Mike Rose Acquires 5,000 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average price of C$61.87 per share, with a total value of C$309,350.00. Following the completion of the acquisition, the insider directly owned 8,142,678 shares in the company, valued at C$503,787,487.86. This represents a 0.06% increase in their position.

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

• On Wednesday, August 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$60.00 per share, with a total value of C$300,000.00.
• On Friday, July 31st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.84 per share, for a total transaction of C$309,200.00.
• On Friday, June 26th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.84 per share, for a total transaction of C$149,600.00.
• On Wednesday, June 24th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.10 per share, for a total transaction of C$147,750.00.
• On Thursday, June 18th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$63.96 per share, with a total value of C$319,800.00.
• On Friday, May 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were bought 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 bought 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price of C$65.98 per share, for a total transaction of C$164,950.00.

Tourmaline Oil Trading Up 0.2%

TSE:TOU opened at C$62.28 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24. Tourmaline Oil Corp. has a 12 month low of C$56.91 and a 12 month high of C$70.57. The company has a market cap of C$24.20 billion, a PE ratio of 67.70, a price-to-earnings-growth ratio of 1.72 and a beta of -0.29. The company has a 50 day simple moving average of C$61.11 and a two-hundred day simple moving average of C$63.10.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, July 29th. The company reported C$0.47 earnings per share for the quarter. The business had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. Research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. Tourmaline Oil’s payout ratio is presently 217.39%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TOU shares. BMO Capital Markets downgraded Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their target price for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. TD upped their price target on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. 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 on the stock. in a report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$70.36.

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.