Tourmaline Oil (TSE:TOU) Insider Purchases 5,000 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was acquired at an average price of C$62.06 per share, for a total transaction of C$310,300.00. Following the completion of the acquisition, the insider directly owned 8,162,678 shares of the company’s stock, valued at C$506,575,796.68. This trade represents a 0.06% increase in their ownership of the stock.

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

• On Tuesday, September 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$60.28 per share, with a total value of C$301,400.00.
• On Friday, September 25th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.15 per share, for a total transaction of C$305,750.00.
• On Friday, September 11th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$61.45 per share, for a total transaction of C$307,250.00.
• On Friday, August 21st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost 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 shares were purchased at an average cost of C$60.00 per share, for a total transaction of C$300,000.00.
• On Friday, July 31st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$61.84 per share, for a total transaction of C$309,200.00.

Tourmaline Oil Trading Down 0.3%

Shares of TOU stock traded down C$0.21 on Tuesday, hitting C$62.78. The stock had a trading volume of 708,690 shares, compared to its average volume of 2,653,043. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24. Tourmaline Oil Corp. has a twelve month low of C$57.95 and a twelve month high of C$70.57. The company has a fifty day moving average price of C$61.53 and a two-hundred day moving average price of C$62.81. The firm has a market cap of C$24.40 billion, a P/E ratio of 68.24, a PEG ratio of 1.72 and a beta of -0.27.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. The Goldman Sachs Group lowered shares of Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 1st. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. TD boosted their target price on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Finally, Jefferies Financial Group raised their price target on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tourmaline Oil has an average rating of “Moderate Buy” and an average target price of C$70.60.

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.