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 the stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average price of C$65.20 per share, for a total transaction of C$326,000.00. Following the transaction, the insider directly owned 8,085,178 shares of the company’s stock, valued at C$527,153,605.60. This represents a 0.06% increase in their position.

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

• On Friday, May 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$64.60 per share, for a total transaction of C$323,000.00.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$59.45 per share, for a total transaction of C$297,250.00.
• On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Trading Up 1.7%

TSE TOU opened at C$67.50 on Friday. The stock’s 50-day simple moving average is C$64.56 and its two-hundred day simple moving average is C$62.77. 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 quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The company has a market capitalization of C$26.21 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 1.72 and a beta of -0.12.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The business had revenue of C$1.78 billion for the quarter. Research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.0%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 110.50%.

Wall Street Analysts Forecast Growth

TOU has been the topic of a number of research reports. Jefferies Financial Group lowered their price target on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Canaccord Genuity Group downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research report on Thursday, May 7th. Royal Bank Of Canada reduced their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. ATB Cormark Capital Markets reduced their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$71.00.

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.