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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of the stock in a transaction on Thursday, June 18th. The shares were bought at an average price of C$59.52 per share, for a total transaction of C$297,600.00. Following the completion of the transaction, the insider directly owned 8,107,678 shares of the company’s stock, valued at C$482,568,994.56. This trade represents a 0.06% increase in their position.

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

• On Monday, June 15th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose purchased 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 shares were purchased 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 shares were purchased at an average cost 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 purchased 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 stock was purchased at an average cost 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 stock was purchased at an average cost of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Stock Up 0.9%

TOU opened at C$60.69 on Friday. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The company has a market cap of C$23.57 billion, a price-to-earnings ratio of 33.53, a PEG ratio of 1.72 and a beta of -0.24. Tourmaline Oil Corp. has a one year low of C$56.72 and a one year high of C$70.57. The business’s fifty day moving average is C$63.64 and its two-hundred day moving average is C$63.22.

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

Tourmaline Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. Tourmaline Oil’s dividend payout ratio is presently 110.50%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target for the company. in a report on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. ATB Cormark Capital Markets decreased their price target on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Royal Bank Of Canada cut their price objective on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Finally, Desjardins upped their price objective on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$71.00.

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.