Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys C$300,000.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was bought at an average price of C$60.00 per share, with a total value of C$300,000.00. Following the acquisition, the insider directly owned 8,132,678 shares in the company, valued at C$487,960,680. The trade was a 0.06% increase in their position.

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

• On Friday, July 31st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$61.84 per share, for a total transaction of C$309,200.00.
• On Friday, June 26th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$59.84 per share, for a total transaction of C$149,600.00.
• On Wednesday, June 24th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$59.10 per share, with a total value of C$147,750.00.
• On Thursday, June 18th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were purchased 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 stock was purchased 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 shares were acquired at an average price of C$65.20 per share, for a total transaction of C$326,000.00.

Tourmaline Oil Stock Down 2.4%

Shares of TSE TOU traded down C$1.48 during midday trading on Wednesday, hitting C$59.39. The company’s stock had a trading volume of 924,680 shares, compared to its average volume of 2,763,519. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47. The firm has a market capitalization of C$23.08 billion, a price-to-earnings ratio of 64.55, a price-to-earnings-growth ratio of 1.72 and a beta of -0.29. The business’s fifty day simple moving average is C$62.10 and its two-hundred day simple moving average is C$63.25. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, July 29th. The company reported C$0.47 earnings per share for the quarter. The firm had revenue of C$1.50 billion for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. On average, equities analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Tourmaline Oil’s payout ratio is 217.39%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TOU shares. Jefferies Financial Group increased their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. 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 report on Thursday, May 7th. TD increased their price target on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$70.36.

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.