Tourmaline Oil (TSE:TOU) Insider Earl Henry Mckinnon Sells 4,700 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) insider Earl Henry Mckinnon sold 4,700 shares of the company’s stock in a transaction that occurred on Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the completion of the sale, the insider directly owned 132,280 shares of the company’s stock, valued at approximately C$7,983,098. This represents a 3.43% decrease in their ownership of the stock.

Tourmaline Oil Trading Up 0.2%

Tourmaline Oil stock opened at C$59.83 on Friday. 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. The stock has a market capitalization of C$23.23 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27. The firm has a 50 day simple moving average of C$63.52 and a 200-day simple moving average of C$62.94.

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

Tourmaline Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, June 15th. Tourmaline Oil’s payout ratio is currently 110.50%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TOU shares. 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 report on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Desjardins boosted their price target 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. Royal Bank Of Canada cut their price target on shares of 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. Finally, ATB Cormark Capital Markets reduced their price objective 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. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company 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.