Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys C$309,350.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was acquired at an average cost of C$61.87 per share, for a total transaction of C$309,350.00. Following the completion of the acquisition, the insider owned 8,142,678 shares in the company, valued at C$503,787,487.86. This represents a 0.06% increase in their position.

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

• On Wednesday, August 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$60.00 per share, with a total value of C$300,000.00.
• On Friday, July 31st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.84 per share, for a total transaction of C$309,200.00.
• On Friday, June 26th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were 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 bought 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost 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 shares were bought at an average price 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 cost 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 price 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.

Tourmaline Oil Price Performance

TOU opened at C$62.28 on Monday. The firm has a 50-day simple moving average of C$61.11 and a two-hundred day simple moving average of C$63.11. Tourmaline Oil Corp. has a 52 week low of C$56.91 and a 52 week high of C$70.57. The company has a market capitalization of C$24.20 billion, a PE ratio of 67.70, a price-to-earnings-growth ratio of 1.72 and a beta of -0.29. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 8.24.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 earnings per share for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%.The firm had revenue of C$1.50 billion during the quarter. 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 disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, June 15th. Tourmaline Oil’s dividend payout ratio is 217.39%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TOU. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their price objective for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. TD boosted their price objective on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price for the company. in a report on Thursday, May 7th. Finally, Jefferies Financial Group increased their price objective on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. Three analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$70.36.

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.