Tourmaline Oil (TSE:TOU) Insider Mike Rose Buys 5,000 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction dated Wednesday, August 5th. The stock was purchased at an average cost of C$60.00 per share, with a total value of C$300,000.00. Following the completion of the acquisition, the insider directly owned 8,132,678 shares in the company, valued at approximately C$487,960,680. The trade was a 0.06% increase in their position.

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

• On Friday, July 31st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$61.84 per share, for a total transaction of C$309,200.00.
• On Friday, June 26th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$59.84 per share, for a total transaction of C$149,600.00.
• On Wednesday, June 24th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.10 per share, with a total value of C$147,750.00.
• On Thursday, June 18th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$63.96 per share, with a total value of C$319,800.00.
• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$63.70 per share, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$65.98 per share, for a total transaction of C$164,950.00.
• On Thursday, May 14th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$65.20 per share, with a total value of C$326,000.00.

Tourmaline Oil Stock Down 2.8%

Shares of TSE:TOU opened at C$59.14 on Thursday. The stock has a market cap of C$22.98 billion, a P/E ratio of 64.28, a P/E/G ratio of 1.72 and a beta of -0.29. The firm has a fifty day moving average price of C$62.00 and a 200 day moving average price of C$63.25. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47. Tourmaline Oil Corp. has a 1-year low of C$56.72 and a 1-year high of C$70.57.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 earnings per share (EPS) for the quarter. The company had revenue of C$1.50 billion for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. Sell-side analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 217.39%.

Wall Street Analysts Forecast Growth

TOU has been the subject of a number of recent research reports. Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Jefferies Financial Group boosted their target price on Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. TD increased their price target on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a report on Wednesday, July 22nd. Finally, BMO Capital Markets lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and an average target price of C$70.36.

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.