Insider Buying: Tourmaline Oil (TSE:TOU) Insider Purchases C$301,400.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of the business’s stock in a transaction on Tuesday, September 29th. The shares were bought at an average price of C$60.28 per share, for a total transaction of C$301,400.00. Following the purchase, the insider directly owned 8,157,678 shares in the company, valued at C$491,744,829.84. This represents a 0.06% increase in their position.

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

• On Friday, September 25th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.15 per share, with a total value of C$305,750.00.
• On Friday, September 11th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.45 per share, with a total value of C$307,250.00.
• On Friday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$61.87 per share, for a total transaction of C$309,350.00.
• On Wednesday, August 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost 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 stock was purchased at an average cost of C$61.84 per share, for a total transaction of C$309,200.00.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$60.66 on Friday. 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 business has a fifty day moving average of C$61.61 and a 200 day moving average of C$62.87. The firm has a market capitalization of C$23.57 billion, a price-to-earnings ratio of 65.93, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26. Tourmaline Oil Corp. has a 1 year low of C$57.95 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 earnings per share (EPS) for the quarter. The firm had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. As a group, research analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Wall Street Analyst Weigh In

TOU has been the subject of several research reports. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Jefferies Financial Group boosted their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Finally, TD upped their price target on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$70.60.

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.