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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of the business’s stock in a transaction on Friday, April 24th. The stock was purchased at an average cost of C$59.45 per share, with a total value of C$297,250.00. Following the acquisition, the insider owned 1,500,000 shares in the company, valued at approximately C$89,175,000. This represents a 0.33% increase in their ownership of the stock.

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

• On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$68.50 per share, with a total value of C$171,250.00.
• On Monday, February 2nd, Mike Rose purchased 10,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$62.21 per share, with a total value of C$622,100.00.

Tourmaline Oil Price Performance

Shares of TOU traded down C$0.91 during mid-day trading on Friday, reaching C$59.54. The company had a trading volume of 1,033,308 shares, compared to its average volume of 2,775,109. Tourmaline Oil Corp. has a twelve month low of C$56.72 and a twelve month high of C$70.57. The company has a debt-to-equity ratio of 12.25, a current ratio of 0.83 and a quick ratio of 0.47. The company’s 50-day moving average is C$63.97 and its 200-day moving average is C$62.32. The company has a market capitalization of C$23.05 billion, a P/E ratio of 87.56, a P/E/G ratio of 1.72 and a beta of -0.10.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%.The company had revenue of C$1.66 billion during the quarter. On average, equities analysts anticipate 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, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. Tourmaline Oil’s dividend payout ratio is presently 294.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TOU. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. ATB Cormark Capital Markets dropped their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Jefferies Financial Group dropped their target price on Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Royal Bank Of Canada dropped their price target on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Finally, Raymond James Financial raised their price target on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$71.25.

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.