Tourmaline Oil (TSE:TOU) Insider Mike Rose Buys 10,000 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 10,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was purchased at an average price of C$62.21 per share, for a total transaction of C$622,100.00. Following the transaction, the insider directly owned 8,042,678 shares of the company’s stock, valued at approximately C$500,334,998.38. This trade represents a 0.12% increase in their position.

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

• On Wednesday, January 14th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$58.72 per share, with a total value of C$146,800.00.

Tourmaline Oil Stock Down 0.1%

TSE TOU opened at C$61.80 on Friday. Tourmaline Oil Corp. has a 1 year low of C$55.40 and a 1 year high of C$70.83. The stock has a market capitalization of C$23.92 billion, a PE ratio of 17.66, a PEG ratio of 1.72 and a beta of 0.12. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The business’s 50-day moving average is C$61.33 and its 200 day moving average is C$60.71.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.49 EPS for the quarter. The business had revenue of C$1.40 billion during the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%. Sell-side analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, December 15th. Tourmaline Oil’s dividend payout ratio is currently 52.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Canadian Imperial Bank of Commerce reduced their price objective on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Jefferies Financial Group cut their target price on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Scotiabank reduced their price target on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Desjardins raised their price objective on shares of Tourmaline Oil from C$68.00 to C$70.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Capital One Financial raised Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 27th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Tourmaline Oil has a consensus rating of “Buy” and an average price target of C$71.56.

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.