Tourmaline Oil (TSE:TOU) Insider Mike Rose Purchases 2,500 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were acquired at an average price of C$59.10 per share, for a total transaction of C$147,750.00. Following the transaction, the insider owned 8,112,678 shares in the company, valued at C$479,459,269.80. This represents a 0.03% increase in their ownership of the stock.

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

• On Thursday, June 18th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$63.96 per share, with a total value of C$319,800.00.
• On Friday, May 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was 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 purchased 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$63.70 per share, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were acquired 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were bought 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 acquired 5,000 shares of Tourmaline Oil stock. The stock was 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 stock was bought at an average price of C$59.45 per share, with a total value of C$297,250.00.

Tourmaline Oil Stock Down 1.7%

Shares of Tourmaline Oil stock traded down C$1.02 during trading on Wednesday, reaching C$59.52. 1,135,997 shares of the company traded hands, compared to its average volume of 2,912,058. The firm has a market capitalization of C$23.11 billion, a PE ratio of 32.88, a P/E/G ratio of 1.72 and a beta of -0.24. Tourmaline Oil Corp. has a 1-year low of C$56.72 and a 1-year high of C$70.57. The company has a 50 day moving average price of C$63.63 and a 200-day moving average price of C$63.17. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. The business 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 research analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, June 15th. Tourmaline Oil’s dividend payout ratio is 110.50%.

Wall Street Analyst Weigh In

TOU has been the subject of several research reports. ATB Cormark Capital Markets reduced their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Royal Bank Of Canada dropped their price target on 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. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Raymond James Financial raised their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Finally, Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Three investment 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 MarketBeat.com, Tourmaline Oil presently has an average rating of “Moderate Buy” and a consensus 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.