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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were acquired at an average cost of C$61.87 per share, with a total value of C$309,350.00. Following the transaction, the insider owned 8,142,678 shares in the company, valued at approximately C$503,787,487.86. This trade represents a 0.06% increase in their ownership of the stock.

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

• On Wednesday, August 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$60.00 per share, for a total transaction of C$300,000.00.
• On Friday, July 31st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price 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 bought at an average cost of C$59.84 per share, with a total value of C$149,600.00.
• On Wednesday, June 24th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought 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 bought at an average cost of C$59.52 per share, for a total transaction of C$297,600.00.
• On Monday, June 15th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$61.04 per share, for a total transaction of C$152,600.00.
• On Friday, June 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$63.96 per share, with a total value of C$319,800.00.
• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost 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 stock was purchased 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 bought 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$65.98 per share, for a total transaction of C$164,950.00.

Tourmaline Oil Stock Performance

TOU opened at C$62.28 on Friday. The company has a 50 day simple moving average of C$61.11 and a two-hundred day simple moving average of C$63.10. 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 cap of C$24.20 billion, a P/E ratio of 67.70, a PEG ratio of 1.72 and a beta of -0.29. Tourmaline Oil Corp. has a 1-year low of C$56.91 and a 1-year high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 EPS 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%. Equities analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, June 15th. Tourmaline Oil’s payout ratio is presently 217.39%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TOU. TD increased their target price on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Jefferies Financial Group upped their price target on Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. BMO Capital Markets lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their price objective for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Finally, Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the company a “hold” rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$70.36.

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.