Tourmaline Oil (TSE:TOU) Insider Buys C$164,950.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction dated Monday, May 25th. The stock was acquired at an average cost of C$65.98 per share, with a total value of C$164,950.00. Following the completion of the acquisition, the insider directly owned 8,087,678 shares of the company’s stock, valued at approximately C$533,624,994.44. The trade was a 0.03% increase in their position.

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

• On Thursday, May 14th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired 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 purchased 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.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Trading Down 1.5%

Shares of TOU stock opened at C$63.80 on Thursday. The company has a market capitalization of C$24.77 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 1.72 and a beta of -0.12. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. The business’s 50 day moving average is C$64.85 and its two-hundred day moving average is C$63.09. Tourmaline Oil Corp. has a twelve month low of C$56.72 and a twelve month high of C$70.57.

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

Tourmaline Oil Dividend Announcement

The company 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 annualized dividend and a dividend yield of 3.1%. Tourmaline Oil’s payout ratio is presently 110.50%.

Wall Street Analysts Forecast Growth

TOU has been the subject of a number of recent analyst reports. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research report on Thursday, May 7th. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Royal Bank Of Canada cut their target price 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. ATB Cormark Capital Markets decreased their price target 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, Raymond James Financial upped their price objective 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 assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Tourmaline Oil presently has a consensus 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.