Tourmaline Oil (TSE:TOU) Insider Mike Rose Purchases 2,500 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was acquired at an average cost of C$63.70 per share, with a total value of C$159,250.00. Following the purchase, the insider owned 8,090,178 shares of the company’s stock, valued at approximately C$515,344,338.60. This represents a 0.03% increase in their position.

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

• 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 bought 5,000 shares of Tourmaline Oil stock. The stock was bought 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 stock was bought 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 stock was bought 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 stock was bought at an average price of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Stock Performance

Shares of TOU opened at C$64.10 on Friday. The firm has a 50-day moving average price of C$64.79 and a 200 day moving average price of C$63.12. The firm has a market capitalization of C$24.89 billion, a PE ratio of 35.41, a P/E/G ratio of 1.72 and a beta of -0.12. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. The firm 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%. On average, sell-side analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, March 16th. Tourmaline Oil’s dividend payout ratio is currently 110.50%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. ATB Cormark Capital Markets decreased their target price on 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. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price for the company. in a research note on Thursday, May 7th. Raymond James Financial raised their target price on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada decreased their target price 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 issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently 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.