Insider Buying: Tourmaline Oil (TSE:TOU) Insider Purchases 2,500 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 2,500 shares of the stock in a transaction dated Monday, May 25th. The shares were purchased at an average price of C$65.98 per share, for a total transaction of C$164,950.00. Following the completion of the transaction, the insider owned 8,087,678 shares in the company, valued at C$533,624,994.44. This trade represents a 0.03% increase in their position.

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

• On Thursday, May 14th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$65.20 per share, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$64.60 per share, for a total transaction of C$323,000.00.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$59.45 per share, for a total transaction of C$297,250.00.
• On Wednesday, March 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Price Performance

Shares of TSE TOU traded down C$1.99 during mid-day trading on Monday, reaching C$65.24. The company had a trading volume of 410,455 shares, compared to its average volume of 2,706,198. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. The stock has a market cap of C$25.33 billion, a PE ratio of 36.04, a P/E/G ratio of 1.72 and a beta of -0.12. The company has a 50-day moving average price of C$64.98 and a two-hundred day moving average price of C$63.01. Tourmaline Oil Corp. has a 1-year low of C$56.72 and a 1-year high of C$70.57.

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

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Monday, March 16th. Tourmaline Oil’s payout ratio is presently 110.50%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TOU. Desjardins lifted their target price on Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Royal Bank Of Canada decreased their target price on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. ATB Cormark Capital Markets decreased their target price on 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. Finally, Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and a consensus target price of C$71.00.

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.