Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys 1,000 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) insider James William Alexander Heard purchased 1,000 shares of the stock in a transaction on Friday, April 17th. The shares were purchased at an average price of C$59.08 per share, for a total transaction of C$59,080.00. Following the transaction, the insider directly owned 66,476 shares of the company’s stock, valued at approximately C$3,927,402.08. This represents a 1.53% increase in their ownership of the stock.

Tourmaline Oil Trading Down 2.8%

Shares of TOU traded down C$1.71 during trading hours on Friday, hitting C$59.51. The company had a trading volume of 2,215,090 shares, compared to its average volume of 2,835,556. The firm has a market cap of C$23.04 billion, a P/E ratio of 87.51, a P/E/G ratio of 1.72 and a beta of -0.10. The stock’s 50 day moving average price is C$64.15 and its 200 day moving average price is C$62.36. The company has a quick ratio of 0.47, a current ratio of 0.83 and a debt-to-equity ratio of 12.25. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. The business had revenue of C$1.66 billion for the quarter. On average, research analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The firm also recently declared 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 yield of 3.4%. The ex-dividend date was Monday, March 16th. Tourmaline Oil’s payout ratio is currently 294.12%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Raymond James Financial lifted their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Canadian Imperial Bank of Commerce cut their price objective on Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. ATB Cormark Capital Markets cut their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Desjardins lifted their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Finally, Jefferies Financial Group cut their price objective on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$71.25.

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 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.