Tourmaline Oil (TSE:TOU) Insider Purchases C$319,800.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of C$63.96 per share, with a total value of C$319,800.00. Following the purchase, the insider directly owned 8,095,178 shares of the company’s stock, valued at approximately C$517,767,584.88. This represents a 0.06% increase in their ownership of the stock.

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

• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$63.79 per share, with a total value of C$318,950.00.
• On Thursday, May 28th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$63.70 per share, with a total value of C$159,250.00.
• On Monday, May 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$65.98 per share, with a total value of C$164,950.00.
• On Thursday, May 14th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$65.20 per share, with a total value of C$326,000.00.
• On Friday, May 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Price Performance

TSE TOU traded down C$1.73 during trading hours on Friday, hitting C$63.69. 2,671,413 shares of the company’s stock traded hands, compared to its average volume of 2,685,841. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57. The company has a market capitalization of C$24.73 billion, a PE ratio of 35.19, a PEG ratio of 1.72 and a beta of -0.24. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47. The firm’s 50-day moving average is C$64.39 and its 200-day moving average is C$63.22.

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 net margin of 12.79% and a return on equity of 4.40%. The company had revenue of C$1.78 billion during the quarter. Equities analysts forecast that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, June 15th. Tourmaline Oil’s dividend payout ratio is currently 110.50%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Desjardins upped their price objective on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Raymond James Financial boosted their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. BMO Capital Markets lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a report on Thursday, May 7th. Finally, Royal Bank Of Canada decreased their target price on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Three investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.