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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average cost of C$61.45 per share, for a total transaction of C$307,250.00. Following the purchase, the insider directly owned 8,147,678 shares of the company’s stock, valued at approximately C$500,674,813.10. This trade represents a 0.06% increase in their position.

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

• On Friday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$61.87 per share, with a total value of C$309,350.00.
• On Wednesday, August 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$60.00 per share, with a total value of C$300,000.00.
• On Friday, July 31st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was bought 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 bought 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$59.84 per share, for a total transaction of C$149,600.00.
• On Wednesday, June 24th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.10 per share, for a total transaction of C$147,750.00.
• On Thursday, June 18th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired 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 purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$61.04 per share, for a total transaction of C$152,600.00.

Tourmaline Oil Stock Down 2.0%

TOU stock traded down C$1.22 during midday trading on Friday, hitting C$61.13. 3,072,160 shares of the company’s stock were exchanged, compared to its average volume of 2,639,786. The firm has a 50 day moving average price of C$61.83 and a 200-day moving average price of C$63.19. Tourmaline Oil Corp. has a 12-month low of C$57.95 and a 12-month high of C$70.57. The stock has a market capitalization of C$23.76 billion, a price-to-earnings ratio of 66.45, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24.

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

Tourmaline Oil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, June 15th. Tourmaline Oil’s payout ratio is presently 217.39%.

Wall Street Analyst Weigh In

TOU has been the subject of a number of recent research reports. Jefferies Financial Group upped their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. TD raised their target price 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. Desjardins set a C$68.00 price target on shares of Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.