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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction dated Friday, July 31st. The shares were purchased at an average cost of C$61.84 per share, with a total value of C$309,200.00. Following the acquisition, the insider owned 8,127,678 shares of the company’s stock, valued at approximately C$502,615,607.52. This trade represents a 0.06% increase in their position.

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

• On Friday, June 26th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.84 per share, for a total transaction of C$149,600.00.
• On Wednesday, June 24th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.10 per share, for a total transaction of C$147,750.00.
• On Thursday, June 18th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.52 per share, for a total transaction of C$297,600.00.
• On Monday, June 15th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$63.96 per share, with a total value of C$319,800.00.
• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$63.79 per share, with a total value of C$318,950.00.
• On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$63.70 per share, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$65.98 per share, for a total transaction of C$164,950.00.
• On Thursday, May 14th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$65.20 per share, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$64.60 per share, with a total value of C$323,000.00.

Tourmaline Oil Stock Performance

Shares of TSE TOU opened at C$61.91 on Friday. 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 market cap of C$24.06 billion, a PE ratio of 67.29, a P/E/G ratio of 1.72 and a beta of -0.27. The stock has a 50 day simple moving average of C$62.24 and a 200-day simple moving average of C$63.18. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. The firm had revenue of C$1.50 billion for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. On average, equities research analysts forecast 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, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. Tourmaline Oil’s dividend payout ratio is presently 217.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. BMO Capital Markets cut shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research report on Thursday, May 7th. Finally, Jefferies Financial Group boosted their price target on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Tourmaline Oil has a consensus rating of “Moderate Buy” and an average target price of C$70.36.

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.