Tourmaline Oil (TSE:TOU) Insider James William Alexander Heard Purchases 1,000 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) insider James William Alexander Heard acquired 1,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were bought at an average cost of C$58.88 per share, with a total value of C$58,880.00. Following the completion of the acquisition, the insider directly owned 67,476 shares in the company, valued at C$3,972,986.88. The trade was a 1.50% increase in their position.

James William Alexander Heard also recently made the following trade(s):

• On Friday, April 17th, James William Alexander Heard bought 1,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.08 per share, for a total transaction of C$59,080.00.

Tourmaline Oil Stock Down 0.6%

TOU opened at C$60.16 on Friday. The business’s fifty day simple moving average is C$63.66 and its 200 day simple moving average is C$63.24. Tourmaline Oil Corp. has a 52 week low of C$56.72 and a 52 week high of C$70.57. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The stock has a market cap of C$23.36 billion, a PE ratio of 33.24, a P/E/G ratio of 1.72 and a beta of -0.24.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. The firm had revenue of C$1.78 billion during the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. As a group, research analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 3.3%. Tourmaline Oil’s dividend payout ratio is currently 110.50%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James Financial lifted their price target on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Canaccord Genuity Group cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a research report on Thursday, May 7th. Royal Bank Of Canada cut their price target on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Finally, BMO Capital Markets downgraded Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently 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.