Tourmaline Oil (TSE:TOU) Insider Acquires C$152,600.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 2,500 shares of the stock in a transaction dated Monday, June 15th. The stock was acquired at an average price of C$61.04 per share, for a total transaction of C$152,600.00. Following the completion of the transaction, the insider directly owned 8,097,678 shares of the company’s stock, valued at approximately C$494,282,265.12. The trade was a 0.03% increase in their ownership of the stock.

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

• On Friday, June 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought 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 purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost 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 bought at an average cost of C$63.70 per share, with a total value of C$159,250.00.
• On Monday, May 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought 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 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 purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased 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 bought 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Trading Down 3.0%

TOU stock traded down C$1.89 during midday trading on Monday, hitting C$61.31. The stock had a trading volume of 3,281,135 shares, compared to its average volume of 2,794,112. The firm has a market cap of C$23.81 billion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 1.72 and a beta of -0.24. The company’s 50-day moving average price is C$63.95 and its 200 day moving average price is C$63.30. 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 debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 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 during the quarter. On average, equities research analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, June 15th. Tourmaline Oil’s payout ratio is 110.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TOU shares. ATB Cormark Capital Markets reduced 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 note on Friday, March 6th. Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research note on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Raymond James Financial raised their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Finally, BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and upped their target price for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Three research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.