Tourmaline Oil (TSE:TOU) Insider Mike Rose Purchases 5,000 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of C$63.96 per share, for a total transaction of C$319,800.00. Following the completion of the acquisition, the insider owned 8,095,178 shares of the company’s stock, valued at C$517,767,584.88. This trade represents a 0.06% increase in their ownership of the stock.

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

• On Friday, May 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$63.70 per share, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was 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 acquired 5,000 shares of Tourmaline Oil stock. The stock was 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 stock was acquired at an average cost of C$64.60 per share, for a total transaction of C$323,000.00.
• On Friday, April 24th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$63.73 on Friday. The company’s fifty day simple moving average is C$64.29 and its 200-day simple moving average is C$63.23. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The firm has a market cap of C$24.75 billion, a PE ratio of 35.21, a P/E/G ratio of 1.72 and a beta of -0.24. Tourmaline Oil Corp. has a 12 month low of C$56.72 and a 12 month high of C$70.57.

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

Tourmaline Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, June 15th. Tourmaline Oil’s payout ratio is currently 110.50%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Raymond James Financial upped their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets reduced their target price on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Royal Bank Of Canada cut 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 research report on Friday, March 6th. Finally, Desjardins upped their price objective on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Three equities research 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 stock. Based on data from MarketBeat.com, Tourmaline Oil currently has an average 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.