Insider Selling: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Sells C$3,636,561.60 in Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer William Scott Kirker sold 56,000 shares of Tourmaline Oil stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$64.94, for a total transaction of C$3,636,561.60.

Tourmaline Oil Stock Performance

Shares of TSE TOU opened at C$62.78 on Friday. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. Tourmaline Oil Corp. has a one year low of C$55.27 and a one year high of C$70.83. The business’s 50-day moving average price is C$63.64 and its two-hundred day moving average price is C$65.03. The company has a market capitalization of C$23.39 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.19%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. Tourmaline Oil’s payout ratio is currently 31.61%.

Analysts Set New Price Targets

Several analysts have recently commented on TOU shares. Desjardins raised their target price on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a “hold” rating in a research report on Tuesday, April 15th. Raymond James set a C$78.00 price objective on Tourmaline Oil and gave the stock an “outperform” rating in a research note on Tuesday, April 8th. Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. UBS Group dropped their target price on Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday, April 17th. Finally, TD Securities reduced their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Tourmaline Oil currently has an average rating of “Moderate Buy” and an average price target of C$76.72.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.