Mike Rose Acquires 5,000 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were acquired at an average price of C$64.60 per share, with a total value of C$323,000.00. Following the purchase, the insider owned 8,080,178 shares of the company’s stock, valued at approximately C$521,979,498.80. This trade represents a 0.06% increase in their ownership of the stock.

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

• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Stock Up 0.8%

Shares of TOU opened at C$66.41 on Wednesday. The stock has a market cap of C$25.79 billion, a price-to-earnings ratio of 36.69, a P/E/G ratio of 1.72 and a beta of -0.12. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. 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 50-day moving average price of C$64.50 and a two-hundred day moving average price of C$62.68.

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

Tourmaline Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.50 dividend. The ex-dividend date was Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. Tourmaline Oil’s payout ratio is 110.50%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TOU shares. Royal Bank Of Canada cut their target price on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Jefferies Financial Group cut their target price on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Desjardins lifted their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Canadian Imperial Bank of Commerce lowered their price target on shares of Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Finally, BMO Capital Markets lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Three research 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 company. According to data from MarketBeat, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average target price of C$71.00.

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.