Tourmaline Oil (TSE:TOU) Insider Acquires C$159,250.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 2,500 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were acquired at an average price of C$63.70 per share, for a total transaction of C$159,250.00. Following the completion of the purchase, the insider owned 8,090,178 shares of the company’s stock, valued at approximately C$515,344,338.60. This represents a 0.03% increase in their position.

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

• On Monday, May 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$65.98 per share, with a total value of C$164,950.00.
• On Thursday, May 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$65.20 per share, with a total value of C$326,000.00.
• On Friday, May 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought 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 acquired 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock traded up C$0.33 during trading on Thursday, hitting C$64.13. 705,085 shares of the company’s stock were exchanged, compared to its average volume of 2,682,943. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The business has a 50-day simple moving average of C$64.85 and a 200-day simple moving average of C$63.09. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57. The stock has a market capitalization of C$24.90 billion, a price-to-earnings ratio of 35.43, a PEG ratio of 1.72 and a beta of -0.12.

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

Tourmaline Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s dividend payout ratio (DPR) is 110.50%.

Analysts Set New Price Targets

A number of research firms have weighed in on TOU. Canaccord Genuity Group cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a report on Thursday, May 7th. ATB Cormark Capital Markets reduced their price target on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Desjardins upped their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Royal Bank Of Canada cut their target price on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, Raymond James Financial upped their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Tourmaline Oil has an average rating of “Moderate Buy” and a consensus price target 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.