Tourmaline Oil (TSE:TOU) Stock: Insider Mike Rose Purchases 5,000 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction dated Monday, November 9th. The stock was acquired at an average cost of C$62.21 per share, with a total value of C$311,050.00. Following the completion of the acquisition, the insider directly owned 8,167,678 shares of the company’s stock, valued at approximately C$508,111,248.38. The trade was a 0.06% increase in their position.

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

• On Tuesday, October 6th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$62.06 per share, with a total value of C$310,300.00.
• On Tuesday, September 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$60.28 per share, with a total value of C$301,400.00.
• On Friday, September 25th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$61.15 per share, for a total transaction of C$305,750.00.
• On Friday, September 11th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$61.45 per share, for a total transaction of C$307,250.00.
• On Friday, August 21st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$61.87 per share, for a total transaction of C$309,350.00.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$63.93 on Wednesday. The stock’s 50-day moving average price is C$63.55 and its 200 day moving average price is C$63.21. The company has a quick ratio of 0.47, a current ratio of 0.86 and a debt-to-equity ratio of 8.95. The stock has a market capitalization of C$24.78 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 1.72 and a beta of -0.09. Tourmaline Oil Corp. has a 52-week low of C$57.95 and a 52-week high of C$70.57.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings data on Wednesday, November 4th. The company reported C$1.64 earnings per share for the quarter. Tourmaline Oil had a return on equity of 5.19% and a net margin of 13.86%. The company had revenue of C$1.47 billion during the quarter. As a group, equities research analysts forecast that Tourmaline Oil Corp. will post 5.68 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the stock a “hold” rating in a research note on Friday, July 17th. ATB Cormark Capital Markets lifted their price objective on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, October 22nd. Jefferies Financial Group boosted their price objective on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. The Goldman Sachs Group cut shares of Tourmaline Oil from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, October 1st. Finally, TD upped their price objective on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$70.80.

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 two 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.