James William Alexander Heard Acquires 1,000 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider James William Alexander Heard acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were purchased at an average cost of C$58.88 per share, for a total transaction of C$58,880.00. Following the completion of the acquisition, the insider directly owned 67,476 shares in the company, valued at approximately C$3,972,986.88. This represents a 1.50% increase in their ownership of the stock.

James William Alexander Heard also recently made the following trade(s):

• On Friday, April 17th, James William Alexander Heard bought 1,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$59.08 per share, with a total value of C$59,080.00.

Tourmaline Oil Trading Up 0.9%

TOU stock opened at C$60.69 on Friday. The firm has a fifty day moving average price of C$63.64 and a 200 day moving average price of C$63.22. 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 cap of C$23.57 billion, a PE ratio of 33.53, a price-to-earnings-growth 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.

Tourmaline Oil (TSE:TOU) last released its quarterly 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 for the quarter. Sell-side analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 presently 110.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TOU shares. ATB Cormark Capital Markets decreased 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. Canaccord Genuity Group downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a research report on Thursday, May 7th. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their price target for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, Raymond James Financial boosted their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. 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’s stock. According to MarketBeat, the company currently has a consensus 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.