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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was bought at an average price of C$59.84 per share, for a total transaction of C$149,600.00. Following the completion of the transaction, the insider owned 8,115,178 shares of the company’s stock, valued at C$485,612,251.52. The trade was a 0.03% increase in their position.

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

• On Wednesday, June 24th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$59.10 per share, with a total value of C$147,750.00.
• On Thursday, June 18th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.04 per share, for a total transaction of C$152,600.00.
• On Friday, June 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price 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 stock was bought at an average price 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 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 purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$65.20 per share, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased 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 purchased at an average price of C$59.45 per share, for a total transaction of C$297,250.00.

Tourmaline Oil Price Performance

TSE:TOU traded up C$0.13 during mid-day trading on Friday, reaching C$60.15. The stock had a trading volume of 570,520 shares, compared to its average volume of 2,902,031. The stock has a market capitalization of C$23.36 billion, a P/E ratio of 33.23, a P/E/G ratio of 1.72 and a beta of -0.24. The firm has a 50 day moving average price of C$63.58 and a two-hundred day moving average price of C$63.10. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. Tourmaline Oil Corp. has a one year low of C$56.72 and a one year high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. The firm had revenue of C$1.78 billion during the quarter. As a group, analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, June 15th. Tourmaline Oil’s dividend payout ratio is presently 110.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. ATB Cormark Capital Markets lowered their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Desjardins boosted their price objective 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. Raymond James Financial lifted their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Canaccord Genuity Group cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target for the company. in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada decreased their price objective on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$71.00.

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.