Insider Buying: Tourmaline Oil (TSE:TOU) Director Purchases C$45,194.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) Director Jill Terilee Angevine bought 766 shares of Tourmaline Oil stock in a transaction on Monday, July 6th. The stock was acquired at an average cost of C$59.00 per share, with a total value of C$45,194.00. Following the acquisition, the director owned 71,766 shares of the company’s stock, valued at C$4,234,194. This trade represents a 1.08% increase in their position.

Tourmaline Oil Stock Performance

TSE:TOU opened at C$61.30 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. Tourmaline Oil Corp. has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57. The stock has a market cap of C$23.80 billion, a PE ratio of 33.87, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27. The firm’s fifty day simple moving average is C$63.43 and its 200-day simple moving average is C$62.95.

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

Tourmaline Oil Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TOU shares. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Canaccord Genuity Group cut 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. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and an average target price 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.