Tourmaline Oil (TSE:TOU) Insider Buys C$319,800.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the stock in a transaction dated Friday, June 5th. The shares were bought at an average price of C$63.96 per share, with a total value of C$319,800.00. Following the completion of the purchase, the insider directly owned 8,095,178 shares of the company’s stock, valued at approximately C$517,767,584.88. This trade represents a 0.06% increase in their position.

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

• On Friday, May 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$63.79 per share, with a total value of C$318,950.00.
• On Thursday, May 28th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$63.70 per share, with a total value of C$159,250.00.
• On Monday, May 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$65.98 per share, with a total value of C$164,950.00.
• 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 bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Stock Performance

TSE TOU traded down C$1.73 on Friday, reaching C$63.69. 2,671,413 shares of the company’s stock traded hands, compared to its average volume of 2,685,841. The firm has a market cap of C$24.73 billion, a price-to-earnings ratio of 35.19, a P/E/G ratio of 1.72 and a beta of -0.24. The stock has a 50 day moving average price of C$64.39 and a 200-day moving average price of C$63.22. Tourmaline Oil Corp. has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88.

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

Tourmaline Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. Tourmaline Oil’s payout ratio is currently 110.50%.

Analysts Set New Price Targets

A number of research firms have weighed in on TOU. ATB Cormark Capital Markets cut their price objective on shares of 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. Desjardins raised their target price on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Raymond James Financial lifted their price target on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada cut their price target 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. Three 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 stock. Based on data from MarketBeat, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average 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.