Earl Henry Mckinnon Sells 4,700 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Earl Henry Mckinnon sold 4,700 shares of Tourmaline Oil stock in a transaction on Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total value of C$283,645.00. Following the sale, the insider owned 132,280 shares in the company, valued at C$7,983,098. This trade represents a 3.43% decrease in their ownership of the stock.

Tourmaline Oil Stock Performance

TOU stock traded up C$0.29 during mid-day trading on Friday, hitting C$60.00. The company had a trading volume of 241,350 shares, compared to its average volume of 2,884,359. Tourmaline Oil Corp. has a 12 month low of C$56.72 and a 12 month high of C$70.57. The stock’s fifty day moving average price is C$63.52 and its two-hundred day moving average price is C$62.96. The firm has a market cap of C$23.30 billion, a PE ratio of 33.15, 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 quick ratio of 0.47 and a current ratio of 0.88.

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

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Tourmaline Oil’s dividend payout ratio is presently 110.50%.

Wall Street Analyst Weigh In

TOU has been the topic of several recent research reports. ATB Cormark Capital Markets dropped their price objective on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Royal Bank Of Canada dropped their price target on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a report on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Finally, Raymond James Financial boosted their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and a consensus price target 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.