Mike Rose Purchases 2,500 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 2,500 shares of the business’s stock in a transaction dated Monday, May 25th. The stock was purchased at an average price of C$65.98 per share, for a total transaction of C$164,950.00. Following the acquisition, the insider directly owned 8,087,678 shares of the company’s stock, valued at approximately C$533,624,994.44. The trade was a 0.03% increase in their position.

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

• On Thursday, May 14th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$65.20 per share, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$64.60 per share, for a total transaction of C$323,000.00.
• On Friday, April 24th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.45 per share, for a total transaction of C$297,250.00.
• On Wednesday, March 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Stock Down 0.8%

TSE TOU opened at C$64.74 on Wednesday. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57. The stock has a market capitalization of C$25.14 billion, a PE ratio of 35.77, a PEG ratio of 1.72 and a beta of -0.12. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47. The business’s 50-day moving average is C$64.90 and its 200 day moving average is C$63.06.

Tourmaline Oil (TSE:TOU) last announced 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 return on equity of 4.40% and a net margin of 12.79%.The company had revenue of C$1.78 billion for the quarter. Sell-side analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a $0.50 dividend. The ex-dividend date was Monday, March 16th. This represents a $2.00 annualized dividend and a yield of 3.1%. Tourmaline Oil’s payout ratio is 110.50%.

Analysts Set New Price Targets

Several research firms recently weighed in on TOU. Canaccord Genuity Group cut 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 report on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Raymond James Financial raised their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Royal Bank Of Canada lowered their price objective on shares of 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. Finally, ATB Cormark Capital Markets lowered their price objective on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average 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.