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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was bought at an average cost of C$65.20 per share, with a total value of C$326,000.00. Following the completion of the purchase, the insider directly owned 8,085,178 shares in the company, valued at approximately C$527,153,605.60. The trade was a 0.06% increase in their ownership of the stock.

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

• On Friday, May 8th, Mike Rose bought 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 bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.45 per share, for a total transaction of C$297,250.00.
• On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Stock Up 1.5%

Shares of TOU opened at C$66.35 on Friday. The company has a market cap of C$25.76 billion, a PE ratio of 36.66, a P/E/G ratio of 1.72 and a beta of -0.12. The business has a fifty day moving average of C$64.53 and a 200 day moving average of C$62.74. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57. 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 (TSE:TOU) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. The business had revenue of C$1.78 billion for the quarter. On average, sell-side analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TOU shares. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. ATB Cormark Capital Markets decreased their price target 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 objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Desjardins upped 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, Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Three investment 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’s stock. Based on data from MarketBeat, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average price target 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.