Tourmaline Oil (TSE:TOU) Insider Mike Rose Buys 5,000 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were purchased at an average price of C$62.21 per share, with a total value of C$311,050.00. Following the acquisition, the insider owned 8,167,678 shares of the company’s stock, valued at approximately C$508,111,248.38. This represents a 0.06% increase in their ownership of the stock.

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

• On Tuesday, October 6th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$62.06 per share, for a total transaction of C$310,300.00.
• On Tuesday, September 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was 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, with a total value of C$305,750.00.
• On Friday, September 11th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.45 per share, for a total transaction of C$307,250.00.
• On Friday, August 21st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.87 per share, with a total value of C$309,350.00.

Tourmaline Oil Price Performance

TOU stock opened at C$62.33 on Tuesday. The company has a market capitalization of C$24.16 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 1.72 and a beta of -0.09. Tourmaline Oil Corp. has a 52-week low of C$57.95 and a 52-week high of C$70.57. The business has a 50-day simple moving average of C$63.53 and a two-hundred day simple moving average of C$63.20. The company has a debt-to-equity ratio of 8.95, a quick ratio of 0.47 and a current ratio of 0.86.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, November 4th. The company reported C$1.64 earnings per share for the quarter. The company had revenue of C$1.47 billion for the quarter. Tourmaline Oil had a return on equity of 5.19% and a net margin of 13.86%. Research analysts expect that Tourmaline Oil Corp. will post 5.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TOU shares. TD upped their price objective on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. 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. ATB Cormark Capital Markets lifted their target price on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, October 22nd. The Goldman Sachs Group downgraded Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 1st. Finally, Desjardins set a C$68.00 target price on Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$70.80.

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 two 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.