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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction dated Wednesday, June 24th. The shares were purchased at an average cost of C$59.10 per share, for a total transaction of C$147,750.00. Following the completion of the transaction, the insider owned 8,112,678 shares of the company’s stock, valued at approximately C$479,459,269.80. This represents a 0.03% increase in their ownership of the stock.

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

• On Thursday, June 18th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$61.04 per share, for a total transaction of C$152,600.00.
• On Friday, June 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was acquired 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 purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$65.98 per share, with a total value of C$164,950.00.
• On Thursday, May 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired 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 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 purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$59.45 per share, for a total transaction of C$297,250.00.

Tourmaline Oil Stock Down 1.1%

Tourmaline Oil stock opened at C$59.86 on Thursday. The stock has a market capitalization of C$23.24 billion, a PE ratio of 33.07, a price-to-earnings-growth ratio of 1.72 and a beta of -0.24. Tourmaline Oil Corp. has a twelve month low of C$56.72 and a twelve month high of C$70.57. 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 company has a 50 day moving average of C$63.59 and a 200-day moving average of C$63.14.

Tourmaline Oil (TSE:TOU) last issued 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%. On average, equities research analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 EPS 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. Shareholders of record on Tuesday, June 30th will be issued 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 is Monday, June 15th. Tourmaline Oil’s dividend payout ratio is 110.50%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their price target for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Royal Bank Of Canada decreased their price objective on 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. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Desjardins boosted their target price on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Raymond James Financial upped their price target 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 assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.