Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys C$310,300.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of the stock in a transaction on Tuesday, October 6th. The stock was purchased at an average cost of C$62.06 per share, with a total value of C$310,300.00. Following the completion of the purchase, the insider directly owned 8,162,678 shares in the company, valued at C$506,575,796.68. This trade represents a 0.06% increase in their position.

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

• On Tuesday, September 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$60.28 per share, for a total transaction of C$301,400.00.
• On Friday, September 25th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$61.15 per share, for a total transaction of C$305,750.00.
• On Friday, September 11th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$61.45 per share, for a total transaction of C$307,250.00.
• On Friday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.87 per share, with a total value of C$309,350.00.
• On Wednesday, August 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$60.00 per share, with a total value of C$300,000.00.
• On Friday, July 31st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$61.84 per share, for a total transaction of C$309,200.00.

Tourmaline Oil Stock Performance

TSE TOU opened at C$63.22 on Friday. The business’s 50-day moving average price is C$61.51 and its 200 day moving average price is C$62.69. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24. Tourmaline Oil Corp. has a twelve month low of C$57.95 and a twelve month high of C$70.57. The company has a market capitalization of C$24.57 billion, a PE ratio of 68.72, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. The company had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. On average, research analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TOU shares. Jefferies Financial Group upped their price target on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. The Goldman Sachs Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, October 1st. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. TD upped their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Tourmaline Oil has a consensus rating of “Moderate Buy” and a consensus price target of C$70.60.

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.