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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the business’s stock in a transaction on Friday, September 11th. The shares were bought at an average cost of C$61.45 per share, with a total value of C$307,250.00. Following the completion of the acquisition, the insider owned 8,147,678 shares in the company, valued at approximately C$500,674,813.10. This represents a 0.06% increase in their ownership of the stock.

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

• On Friday, August 21st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.87 per share, for a total transaction of C$309,350.00.
• On Wednesday, August 5th, Mike Rose bought 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 purchased 5,000 shares of Tourmaline Oil stock. The stock was 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 purchased 2,500 shares of Tourmaline Oil stock. The stock was 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.10 per share, with a total value of C$147,750.00.
• On Thursday, June 18th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.52 per share, for a total transaction of C$297,600.00.
• On Monday, June 15th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$61.04 per share, for a total transaction of C$152,600.00.

Tourmaline Oil Stock Performance

TSE TOU opened at C$61.37 on Friday. The stock has a market capitalization of C$23.85 billion, a PE ratio of 66.71, a P/E/G ratio of 1.72 and a beta of -0.26. The business has a 50 day simple moving average of C$61.86 and a two-hundred day simple moving average of C$63.18. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47. Tourmaline Oil Corp. has a 1-year low of C$57.95 and a 1-year high of C$70.57.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 29th. The company reported C$0.47 EPS 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. On average, research analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, June 15th. Tourmaline Oil’s dividend payout ratio is currently 217.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Jefferies Financial Group raised their price target on Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. 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. Finally, Desjardins set a C$68.00 target price on shares of Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Tourmaline Oil has an average rating of “Moderate Buy” and an average target price of C$70.36.

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.