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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were purchased at an average cost of C$61.84 per share, for a total transaction of C$309,200.00. Following the completion of the transaction, the insider owned 8,127,678 shares in the company, valued at approximately C$502,615,607.52. This represents a 0.06% increase in their position.

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

• On Friday, June 26th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$59.84 per share, with a total value of C$149,600.00.
• On Wednesday, June 24th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired 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 bought 5,000 shares of Tourmaline Oil stock. The stock was purchased 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 bought 2,500 shares of Tourmaline Oil stock. The shares were acquired 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 price of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$63.79 per share, with a total value of C$318,950.00.
• On Thursday, May 28th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost 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 shares were purchased 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 bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$64.60 per share, for a total transaction of C$323,000.00.

Tourmaline Oil Stock Performance

Shares of TOU stock traded down C$0.31 during mid-day trading on Friday, reaching C$61.99. The stock had a trading volume of 1,270,477 shares, compared to its average volume of 2,769,443. The firm has a market cap of C$24.07 billion, a PE ratio of 34.25, a P/E/G ratio of 1.72 and a beta of -0.27. The firm’s 50 day simple moving average is C$62.35 and its 200 day simple moving average is C$63.19. Tourmaline Oil Corp. has a one year low of C$56.72 and a one year 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 results on Wednesday, July 29th. The company reported C$0.47 earnings per share (EPS) 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$1.50 billion during the quarter. On average, analysts forecast that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, June 15th. Tourmaline Oil’s dividend payout ratio is presently 110.50%.

Analyst Ratings Changes

Several research firms have issued reports on TOU. TD upped their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Jefferies Financial Group boosted their target price on Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research note on Thursday, May 7th. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Finally, Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tourmaline Oil has an average rating of “Moderate Buy” and an average target price 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.