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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of C$63.79 per share, for a total transaction of C$318,950.00. Following the acquisition, the insider owned 1,505,000 shares in the company, valued at C$96,003,950. This trade represents a 0.33% increase in their ownership of the stock.

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

• On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought 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 bought at an average price 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 bought 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 bought 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Trading Down 1.7%

TSE:TOU opened at C$63.02 on Friday. The stock has a 50-day simple moving average of C$64.71 and a 200-day simple moving average of C$63.12. The stock has a market cap of C$24.47 billion, a P/E ratio of 34.82, a P/E/G ratio of 1.72 and a beta of -0.12. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88.

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

Tourmaline Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s dividend payout ratio is currently 110.50%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Desjardins upped their price objective on 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. ATB Cormark Capital Markets lowered their price objective on 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. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Finally, Raymond James Financial upped their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company 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.