Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Purchases 5,000 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of C$64.65 per share, for a total transaction of C$323,258.00.

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

• On Friday, March 22nd, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.42 per share, with a total value of C$148,543.00.
• On Friday, March 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$62.25 per share, for a total transaction of C$311,259.00.
• On Monday, February 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$55.41 per share, for a total transaction of C$277,025.00.

Tourmaline Oil Price Performance

Shares of TSE TOU traded down C$0.58 during mid-day trading on Friday, reaching C$64.71. 7,477,226 shares of the company traded hands, compared to its average volume of 2,061,335. Tourmaline Oil Corp. has a fifty-two week low of C$53.45 and a fifty-two week high of C$74.21. The company has a debt-to-equity ratio of 8.04, a current ratio of 0.81 and a quick ratio of 0.47. The firm has a market cap of C$22.74 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.72 and a beta of 1.40. The stock has a fifty day simple moving average of C$63.36 and a 200-day simple moving average of C$63.07.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, beating the consensus estimate of C$1.41 by C$0.59. The business had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.49 billion. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. Equities research analysts anticipate that Tourmaline Oil Corp. will post 4.710507 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Wednesday, May 8th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.30. Tourmaline Oil’s dividend payout ratio is presently 23.86%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TOU. CIBC increased their price target on shares of Tourmaline Oil from C$77.50 to C$80.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James lowered their price target on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a research report on Friday, January 19th. Desjardins dropped their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. TD Securities cut their price target on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Finally, Jefferies Financial Group increased their target price on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company a “buy” rating in a research report on Friday, April 12th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$78.38.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.