Mike Rose Purchases 10,000 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 10,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of C$59.83 per share, with a total value of C$598,300.00. Following the completion of the purchase, the insider owned 8,197,742 shares in the company, valued at C$490,470,903.86. This represents a 0.12% increase in their position.

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

• On Friday, October 10th, Mike Rose acquired 10,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$60.42 per share, for a total transaction of C$604,200.00.
• On Friday, September 19th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$61.19 per share, for a total transaction of C$305,928.00.

Tourmaline Oil Stock Performance

TSE TOU traded up C$0.19 during midday trading on Friday, hitting C$60.14. The company had a trading volume of 715,112 shares, compared to its average volume of 2,361,685. The firm has a fifty day simple moving average of C$60.57 and a two-hundred day simple moving average of C$61.61. Tourmaline Oil Corp. has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.83. The stock has a market cap of C$23.26 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.72 and a beta of 0.29. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 15th. Tourmaline Oil’s dividend payout ratio is currently 42.29%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TOU. Royal Bank Of Canada cut their target price on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. ATB Capital upped their target price on Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. CIBC lowered their price objective on Tourmaline Oil from C$74.00 to C$71.00 in a research note on Wednesday, October 15th. Raymond James Financial reduced their target price on shares of Tourmaline Oil from C$74.00 to C$72.00 in a report on Thursday. Finally, The Goldman Sachs Group upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$74.10.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.