Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Purchases C$155,216.50 in Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of C$62.09 per share, with a total value of C$155,216.50.

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

• On Thursday, December 12th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$62.90 per share, for a total transaction of C$157,252.00.
• On Friday, November 8th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$62.27 per share, with a total value of C$155,664.50.
• On Tuesday, October 15th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$63.32 per share, for a total transaction of C$158,310.00.
• On Wednesday, October 9th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$63.95 per share, with a total value of C$159,875.00.
• On Friday, September 20th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$58.40 per share, for a total transaction of C$146,004.50.

Tourmaline Oil Trading Down 1.3 %

Shares of TOU stock opened at C$60.72 on Thursday. Tourmaline Oil Corp. has a twelve month low of C$53.45 and a twelve month high of C$69.25. The company has a market capitalization of C$22.54 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 1.72 and a beta of 1.30. The firm has a 50-day moving average price of C$63.99 and a 200 day moving average price of C$62.58. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.26 by C($0.26). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The firm had revenue of C$1.47 billion for the quarter, compared to analysts’ expectations of C$1.63 billion. Research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s payout ratio is currently 33.18%.

Wall Street Analysts Forecast Growth

TOU has been the topic of a number of research analyst reports. Cormark raised shares of Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Canaccord Genuity Group lowered their price target on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Jefferies Financial Group raised their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday. TD Securities decreased their target price on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group raised their price target on Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$78.21.

About Tourmaline Oil

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.