Insider Buying: Tourmaline Oil (TSE:TOU) Insider Purchases C$326,000.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of C$65.20 per share, with a total value of C$326,000.00. Following the purchase, the insider directly owned 8,085,178 shares in the company, valued at C$527,153,605.60. This represents a 0.06% increase in their ownership of the stock.

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

• On Friday, May 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Trading Up 1.7%

TSE TOU opened at C$67.50 on Friday. The business’s fifty day moving average is C$64.56 and its 200-day moving average is C$62.77. Tourmaline Oil Corp. has a one year low of C$56.72 and a one year high of C$70.57. The stock has a market capitalization of C$26.21 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 1.72 and a beta of -0.12. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47.

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

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, March 16th. Tourmaline Oil’s payout ratio is 110.50%.

Analysts Set New Price Targets

TOU has been the subject of several recent analyst reports. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Raymond James Financial upped their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. BMO Capital Markets cut shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Canaccord Genuity Group cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research report on Thursday, May 7th. Finally, Desjardins upped their price objective on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tourmaline Oil currently has an average rating of “Moderate Buy” and an average target price of C$71.00.

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.