Tourmaline Oil Corp. (TSE:TOU) Senior Officer Buys C$302,778.50 in Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of C$60.56 per share, for a total transaction of C$302,778.50.

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

• On Friday, June 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$62.88 per share, for a total transaction of C$314,392.00.
• On Wednesday, June 12th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$66.10 per share, for a total transaction of C$165,250.00.
• On Wednesday, May 29th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$66.43 per share, with a total value of C$166,064.50.

Tourmaline Oil Price Performance

TOU traded down C$0.23 during midday trading on Tuesday, reaching C$60.50. 4,859,731 shares of the company’s stock were exchanged, compared to its average volume of 2,416,862. Tourmaline Oil Corp. has a one year low of C$53.45 and a one year high of C$74.21. The business has a 50-day simple moving average of C$61.81 and a two-hundred day simple moving average of C$62.36. The company has a quick ratio of 0.47, a current ratio of 0.89 and a debt-to-equity ratio of 9.61. The firm has a market capitalization of C$21.28 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.72 and a beta of 1.39.

Tourmaline Oil Cuts Dividend

The company also recently announced a None dividend, which will be paid on Wednesday, August 21st. Stockholders of record on Friday, August 9th will be paid a $0.50 dividend. The ex-dividend date is Friday, August 9th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 25.65%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TOU shares. Canaccord Genuity Group upped their target price on shares of Tourmaline Oil from C$72.50 to C$73.50 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Stifel Nicolaus raised their price target on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Desjardins reduced their price target on shares of Tourmaline Oil from C$74.00 to C$72.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. CIBC increased their price objective on shares of Tourmaline Oil from C$77.50 to C$80.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, UBS Group raised shares of Tourmaline Oil to a “hold” rating in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Buy” and a consensus target price of C$78.21.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.