Tourmaline Oil (TSE:TOU) Insider Purchases C$318,950.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of C$63.79 per share, for a total transaction of C$318,950.00. Following the completion of the purchase, the insider directly owned 1,505,000 shares in the company, valued at C$96,003,950. This represents a 0.33% increase in their position.

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

• On Thursday, May 28th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$65.20 per share, with a total value of C$326,000.00.
• On Friday, May 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Stock Performance

TOU traded down C$0.98 on Friday, hitting C$63.12. 564,081 shares of the stock traded hands, compared to its average volume of 2,667,975. Tourmaline Oil Corp. has a 52 week low of C$56.72 and a 52 week high of C$70.57. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. The firm has a market capitalization of C$24.51 billion, a PE ratio of 34.87, a P/E/G ratio of 1.72 and a beta of -0.12. The business has a fifty day moving average price of C$64.79 and a two-hundred day moving average price of C$63.12.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The firm had revenue of C$1.78 billion for the quarter. On average, research analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, March 16th. Tourmaline Oil’s payout ratio is currently 110.50%.

Analysts Set New Price Targets

TOU has been the topic of several analyst reports. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and upped their price objective for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Desjardins upped their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. ATB Cormark Capital Markets lowered their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$71.00.

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.