Tourmaline Oil (TSE:TOU) Insider James William Alexander Heard Buys 1,000 Shares

Tourmaline Oil Corp. (TSE:TOU) insider James William Alexander Heard purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was purchased at an average price of C$58.88 per share, for a total transaction of C$58,880.00. Following the purchase, the insider owned 67,476 shares in the company, valued at C$3,972,986.88. This represents a 1.50% increase in their ownership of the stock.

James William Alexander Heard also recently made the following trade(s):

• On Friday, April 17th, James William Alexander Heard acquired 1,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$59.08 per share, for a total transaction of C$59,080.00.

Tourmaline Oil Stock Down 0.8%

TOU stock traded down C$0.48 during trading on Thursday, hitting C$60.02. 3,033,473 shares of the stock traded hands, compared to its average volume of 2,871,238. The stock has a market cap of C$23.31 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 1.72 and a beta of -0.24. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57. The firm’s 50 day moving average is C$63.75 and its two-hundred day moving average is C$63.27.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. The business 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 EPS for the current year.

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Tourmaline Oil’s dividend payout ratio (DPR) is 110.50%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TOU. 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 report on Friday, March 6th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Royal Bank Of Canada reduced their target price on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Desjardins boosted their price target on Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, Raymond James Financial upped their price target on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Three 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’s stock. According to MarketBeat, Tourmaline Oil 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.