Tourmaline Oil (TSE:TOU) Stock: 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 Friday, September 25th. The stock was acquired at an average price of C$61.15 per share, with a total value of C$305,750.00. Following the purchase, the insider directly owned 8,152,678 shares of the company’s stock, valued at approximately C$498,536,259.70. This represents a 0.06% increase in their ownership of the stock.

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

• On Friday, September 11th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.45 per share, with a total value of C$307,250.00.
• On Friday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$61.87 per share, with a total value of C$309,350.00.
• On Wednesday, August 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired 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 bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$61.84 per share, for a total transaction of C$309,200.00.

Tourmaline Oil Stock Performance

Shares of TSE:TOU traded down C$0.04 during trading on Friday, hitting C$61.38. 2,077,065 shares of the company were exchanged, compared to its average volume of 2,675,718. The company has a market cap of C$23.85 billion, a PE ratio of 66.72, a P/E/G ratio of 1.72 and a beta of -0.26. The stock has a 50 day moving average of C$61.88 and a 200 day moving average of C$63.01. Tourmaline Oil Corp. has a 52-week low of C$57.95 and a 52-week high of C$70.57. 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 (TSE:TOU) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 earnings per share for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%.The company had revenue of C$1.50 billion during the quarter. As a group, equities research analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on TOU. Desjardins set a C$68.00 target price on Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. TD raised their price objective on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group upped their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.