Mike Rose Acquires 2,500 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average cost of C$63.70 per share, for a total transaction of C$159,250.00. Following the purchase, the insider owned 8,090,178 shares of the company’s stock, valued at C$515,344,338.60. This represents a 0.03% increase in their ownership of the stock.

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

• On Friday, May 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$63.79 per share, for a total transaction of C$318,950.00.
• On Monday, May 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$65.98 per share, for a total transaction of C$164,950.00.
• On Thursday, May 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$65.20 per share, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$64.60 per share, for a total transaction of C$323,000.00.
• On Friday, April 24th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.45 per share, for a total transaction of C$297,250.00.
• On Wednesday, March 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Stock Down 1.7%

Shares of TSE:TOU opened at C$63.02 on Friday. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57. The stock has a market cap of C$24.47 billion, a P/E ratio of 34.82, a price-to-earnings-growth ratio of 1.72 and a beta of -0.12. The business’s 50 day moving average is C$64.71 and its 200 day moving average is C$63.12. 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 (TSE:TOU) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The company had revenue of C$1.78 billion for the quarter. Sell-side analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s dividend payout ratio (DPR) is 110.50%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TOU shares. Desjardins increased their target price on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a research report on Thursday, May 7th. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their target price for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. ATB Cormark Capital Markets dropped their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.