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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 2,500 shares of the stock in a transaction dated Wednesday, March 25th. The shares were purchased at an average price of C$68.50 per share, for a total transaction of C$171,250.00. Following the completion of the transaction, the insider owned 8,060,178 shares in the company, valued at C$552,122,193. This trade represents a 0.03% increase in their position.

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

• On Monday, February 2nd, Mike Rose acquired 10,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$62.21 per share, for a total transaction of C$622,100.00.
• On Wednesday, January 14th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$58.72 per share, with a total value of C$146,800.00.

Tourmaline Oil Trading Down 1.2%

Shares of TOU stock opened at C$68.51 on Thursday. The stock has a 50-day simple moving average of C$63.52 and a 200 day simple moving average of C$62.05. The stock has a market capitalization of C$26.53 billion, a P/E ratio of 100.75, a P/E/G ratio of 1.72 and a beta of 0.00. Tourmaline Oil Corp. has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.73. The company has a quick ratio of 0.47, a current ratio of 0.83 and a debt-to-equity ratio of 12.25.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%.The business had revenue of C$1.66 billion during the quarter. On average, sell-side analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, March 16th. Tourmaline Oil’s payout ratio is presently 294.12%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TOU shares. Raymond James Financial raised their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Scotiabank dropped their price target on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. ATB Cormark Capital Markets cut their price objective on 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. Royal Bank Of Canada reduced their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Finally, Canadian Imperial Bank of Commerce cut their target price on Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of C$71.22.

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.