Mike Rose Buys 5,000 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of the stock in a transaction on Friday, July 31st. The shares were bought at an average price of C$61.84 per share, for a total transaction of C$309,200.00. Following the purchase, the insider directly owned 8,127,678 shares in the company, valued at approximately C$502,615,607.52. This trade represents a 0.06% increase in their position.

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

• On Friday, June 26th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.84 per share, for a total transaction of C$149,600.00.
• On Wednesday, June 24th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$61.04 per share, with a total value 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, for a total transaction 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, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was 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 price of C$65.20 per share, with a total value 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, for a total transaction of C$323,000.00.

Tourmaline Oil Stock Performance

TOU stock opened at C$61.91 on Friday. The company has a market cap of C$24.06 billion, a P/E ratio of 67.29, a price-to-earnings-growth ratio of 1.72 and a beta of -0.27. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47. The stock’s fifty day moving average price is C$62.24 and its 200-day moving average price is C$63.18.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. The company had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%. On average, equities analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid 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, June 15th. Tourmaline Oil’s payout ratio is currently 217.39%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TOU shares. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. TD boosted their target price on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. BMO Capital Markets cut shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and upped their target price for the company from C$67.00 to C$70.00 in a report on Thursday, May 7th. Jefferies Financial Group increased their price target on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Finally, Desjardins set a C$68.00 price target on shares of Tourmaline Oil and gave the stock a “hold” rating in a research note on Friday, July 17th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$70.36.

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.