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 the business’s stock in a transaction dated Monday, November 9th. The shares were acquired at an average cost of C$62.21 per share, for a total transaction of C$311,050.00. Following the transaction, the insider directly owned 8,167,678 shares in the company, valued at approximately C$508,111,248.38. This represents a 0.06% increase in their position.

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

• On Tuesday, October 6th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$62.06 per share, with a total value of C$310,300.00.
• On Tuesday, September 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$60.28 per share, with a total value of C$301,400.00.
• On Friday, September 25th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were 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 bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$61.45 per share, with a total value of C$307,250.00.
• On Friday, August 21st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.87 per share, for a total transaction of C$309,350.00.

Tourmaline Oil Stock Down 1.1%

TSE:TOU traded down C$0.70 during midday trading on Monday, hitting C$62.33. 1,275,447 shares of the company were exchanged, compared to its average volume of 2,603,450. Tourmaline Oil Corp. has a fifty-two week low of C$57.95 and a fifty-two week high of C$70.57. The company has a market capitalization of C$24.16 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 1.72 and a beta of -0.09. The company has a current ratio of 0.86, a quick ratio of 0.47 and a debt-to-equity ratio of 8.95. The company has a fifty day simple moving average of C$63.53 and a 200 day simple moving average of C$63.20.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, November 4th. The company reported C$1.64 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 13.86% and a return on equity of 5.19%. The company had revenue of C$1.47 billion during the quarter. As a group, equities analysts anticipate that Tourmaline Oil Corp. will post 5.68 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. The Goldman Sachs Group downgraded Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 1st. Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. Jefferies Financial Group raised their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. TD lifted 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. Finally, ATB Cormark Capital Markets upped their price target on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Tourmaline Oil presently has a consensus rating of “Hold” and a consensus target price of C$70.80.

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 two 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.