Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Acquires C$307,945.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average price of C$61.59 per share, with a total value of C$307,945.00.

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

• On Tuesday, August 13th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$60.56 per share, with a total value of C$302,778.50.
• On Friday, June 14th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$62.88 per share, with a total value of C$314,392.00.
• On Wednesday, June 12th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$66.43 per share, for a total transaction of C$166,064.50.

Tourmaline Oil Stock Down 0.4 %

Shares of TSE:TOU traded down C$0.22 during trading on Wednesday, hitting C$61.72. The company’s stock had a trading volume of 395,994 shares, compared to its average volume of 2,456,054. Tourmaline Oil Corp. has a fifty-two week low of C$53.45 and a fifty-two week high of C$74.21. The stock’s 50-day moving average price is C$61.42 and its two-hundred day moving average price is C$62.49. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. The company has a market capitalization of C$21.75 billion, a PE ratio of 14.61, a PEG ratio of 1.72 and a beta of 1.32.

Tourmaline Oil Cuts Dividend

The business also recently declared a None dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 13th. Tourmaline Oil’s dividend payout ratio is presently 31.28%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TOU shares. Desjardins upped their price objective on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus increased 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 note on Tuesday, April 23rd. National Bankshares boosted their price objective on shares of Tourmaline Oil from C$70.00 to C$72.50 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group upped their price objective on Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, UBS Group upgraded 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 given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$79.04.

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.