Tourmaline Oil (TSE:TOU) Insider Purchases C$309,200.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were acquired at an average price of C$61.84 per share, with a total value of C$309,200.00. Following the purchase, the insider owned 8,127,678 shares of the company’s stock, valued at approximately C$502,615,607.52. This trade represents a 0.06% increase in their ownership of the stock.

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

• On Friday, June 26th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price 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 bought 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 stock was bought at an average cost of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$63.96 per share, with a total value of C$319,800.00.
• On Friday, May 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price of C$63.70 per share, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price of C$65.98 per share, for a total transaction of C$164,950.00.
• On Thursday, May 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price 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 bought at an average cost of C$64.60 per share, with a total value of C$323,000.00.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$61.91 on Monday. 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 debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72. The company’s fifty day moving average is C$62.24 and its 200-day moving average is C$63.21. The company has a market capitalization of C$24.06 billion, a PE ratio of 67.29, a P/E/G ratio of 1.72 and a beta of -0.27.

Tourmaline Oil (TSE:TOU) last posted its 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 for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. Equities research analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th 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 of this dividend was Monday, June 15th. Tourmaline Oil’s dividend payout ratio is currently 217.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price for the company. in a research note on Thursday, May 7th. Jefferies Financial Group increased their price target on Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the stock a “hold” rating in a research note on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.