Tourmaline Oil (TSE:TOU) Insider Mike Rose Buys 5,000 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average cost of C$59.52 per share, with a total value of C$297,600.00. Following the transaction, the insider directly owned 8,107,678 shares of the company’s stock, valued at C$482,568,994.56. The trade was a 0.06% increase in their ownership of the stock.

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

• On Monday, June 15th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$61.04 per share, for a total transaction of C$152,600.00.
• On Friday, June 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$63.70 per share, with a total value of C$159,250.00.
• On Monday, May 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired 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 stock was acquired at an average cost of C$65.20 per share, with a total value of C$326,000.00.
• On Friday, May 8th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired 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 shares were acquired at an average cost of C$59.45 per share, for a total transaction of C$297,250.00.
• On Wednesday, March 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Price Performance

Shares of TOU stock opened at C$60.16 on Friday. Tourmaline Oil Corp. has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57. The firm has a market capitalization of C$23.36 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 1.72 and a beta of -0.24. 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 stock’s 50-day simple moving average is C$63.66 and its 200-day simple moving average is C$63.24.

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

Tourmaline Oil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 110.50%.

Analyst Ratings Changes

TOU has been the topic of a number of research analyst reports. 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. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Desjardins lifted their price target on Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. ATB Cormark Capital Markets dropped their price target on 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. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average target price 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.