Tourmaline Oil (TSE:TOU) Insider Acquires C$311,050.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction on Monday, November 9th. The shares were bought at an average price of C$62.21 per share, for a total transaction of C$311,050.00. Following the purchase, the insider owned 8,167,678 shares of the company’s stock, valued at C$508,111,248.38. This represents a 0.06% increase in their ownership of the stock.

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

• On Tuesday, October 6th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$62.06 per share, with a total value of C$310,300.00.
• On Tuesday, September 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$60.28 per share, for a total transaction of C$301,400.00.
• On Friday, September 25th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$61.15 per share, with a total value of C$305,750.00.
• On Friday, September 11th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$61.45 per share, for a total transaction of C$307,250.00.
• On Friday, August 21st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$61.87 per share, for a total transaction of C$309,350.00.

Tourmaline Oil Stock Performance

Tourmaline Oil stock opened at C$64.75 on Thursday. Tourmaline Oil Corp. has a 52 week low of C$57.95 and a 52 week high of C$70.57. The company has a current ratio of 0.86, a quick ratio of 0.47 and a debt-to-equity ratio of 8.95. The stock has a market cap of C$25.10 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 1.72 and a beta of -0.09. The stock has a 50 day moving average of C$63.56 and a 200-day moving average of C$63.22.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, November 4th. The company reported C$1.64 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 13.86% and a return on equity of 5.19%. The business had revenue of C$1.47 billion for the quarter. On average, analysts expect that Tourmaline Oil Corp. will post 5.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TOU. The Goldman Sachs Group lowered Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, October 1st. Jefferies Financial Group increased their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the company a “hold” rating in a research report on Friday, July 17th. TD lifted their price objective on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a research note on Wednesday, July 22nd. Finally, ATB Cormark Capital Markets boosted their target price on Tourmaline Oil from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$70.80.

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 two 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.