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

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

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

• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$63.79 per share, for a total transaction of C$318,950.00.
• 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, for a total transaction of C$164,950.00.
• On Thursday, May 14th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$65.20 per share, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$64.60 per share, for a total transaction of C$323,000.00.
• On Friday, April 24th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.45 per share, for a total transaction 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, for a total transaction of C$171,250.00.

Tourmaline Oil Trading Down 1.7%

Shares of TSE:TOU opened at C$63.02 on Friday. Tourmaline Oil Corp. has a 12 month low of C$56.72 and a 12 month high of C$70.57. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The company’s fifty day simple moving average is C$64.71 and its 200 day simple moving average is C$63.12. The firm has a market cap of C$24.47 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 1.72 and a beta of -0.12.

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

Tourmaline Oil Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, March 16th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 110.50%.

Analysts Set New Price Targets

A number of brokerages recently commented on TOU. Raymond James Financial raised their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. ATB Cormark Capital Markets dropped their price objective on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a report on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Finally, BMO Capital Markets lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$71.00.

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.