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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average price of C$61.45 per share, for a total transaction of C$307,250.00. Following the acquisition, the insider directly owned 8,147,678 shares in the company, valued at C$500,674,813.10. The trade was a 0.06% increase in their ownership of the stock.

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

• On Friday, August 21st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.87 per share, for a total transaction of C$309,350.00.
• On Wednesday, August 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$60.00 per share, with a total value of C$300,000.00.
• On Friday, July 31st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.84 per share, with a total value of C$309,200.00.
• On Friday, June 26th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.84 per share, with a total value of C$149,600.00.
• On Wednesday, June 24th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost 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 bought at an average cost of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price of C$61.04 per share, for a total transaction of C$152,600.00.

Tourmaline Oil Stock Down 1.6%

Shares of TSE:TOU opened at C$61.37 on Friday. The stock has a market cap of C$23.85 billion, a price-to-earnings ratio of 66.71, a PEG ratio of 1.72 and a beta of -0.26. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 8.24. Tourmaline Oil Corp. has a 12-month low of C$57.95 and a 12-month high of C$70.57. The business’s 50 day moving average is C$61.86 and its 200 day moving average is C$63.18.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. On average, sell-side analysts forecast 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 was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Tourmaline Oil’s dividend payout ratio is presently 217.39%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. TD increased their target price on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Jefferies Financial Group boosted their price target on shares of Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Finally, Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$70.36.

About Tourmaline Oil

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.