Tourmaline Oil (TSE:TOU) Insider Mike Rose Acquires 5,000 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of the firm’s stock in a transaction dated Friday, May 29th. The stock was acquired at an average cost of C$63.79 per share, with a total value of C$318,950.00. Following the completion of the acquisition, the insider directly owned 1,505,000 shares in the company, valued at approximately C$96,003,950. This trade represents a 0.33% increase in their position.

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

• On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$63.70 per share, with a total value of C$159,250.00.
• On Monday, May 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$65.98 per share, with a total value of C$164,950.00.
• On Thursday, May 14th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost 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 stock was acquired at an average cost of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Trading Down 1.7%

TSE TOU opened at C$63.02 on Friday. 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 50-day simple moving average of C$64.71 and a 200-day simple moving average of C$63.12. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The firm has a market capitalization of C$24.47 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 1.72 and a beta of -0.12.

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

Tourmaline Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s payout ratio is presently 110.50%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TOU shares. Desjardins boosted their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Raymond James Financial boosted their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. BMO Capital Markets lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, ATB Cormark Capital Markets reduced their target price on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Tourmaline Oil presently has an average rating of “Moderate Buy” and a consensus target price of C$71.00.

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.