Tourmaline Oil (TSE:TOU) Insider Mike Rose Buys 2,500 Shares

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

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

• On Friday, June 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were 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 purchased 2,500 shares of Tourmaline Oil stock. The shares were 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 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 purchased 5,000 shares of Tourmaline Oil stock. The shares were 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 purchased 5,000 shares of Tourmaline Oil stock. The shares were 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 purchased 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Stock Down 3.1%

Shares of TOU opened at C$61.26 on Tuesday. The stock has a market capitalization of C$23.79 billion, a PE ratio of 33.85, a P/E/G ratio of 1.72 and a beta of -0.24. 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. The company’s 50-day simple moving average is C$63.89 and its 200-day simple moving average is C$63.30.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results 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 for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. Analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 3.3%. Tourmaline Oil’s dividend payout ratio (DPR) is 110.50%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TOU shares. 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 on the stock in a report on Friday, March 6th. Canaccord Genuity Group cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a report on Thursday, May 7th. Raymond James Financial raised their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Desjardins raised their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, 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 report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.