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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were purchased at an average cost of C$61.87 per share, with a total value of C$309,350.00. Following the purchase, the insider owned 8,142,678 shares of the company’s stock, valued at approximately C$503,787,487.86. The trade was a 0.06% increase in their ownership of the stock.

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

• On Wednesday, August 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$60.00 per share, for a total transaction of C$300,000.00.
• On Friday, July 31st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$61.84 per share, for a total transaction of C$309,200.00.
• On Friday, June 26th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased 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 bought 2,500 shares of Tourmaline Oil stock. The stock was purchased 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 bought 5,000 shares of Tourmaline Oil stock. The stock was purchased 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 shares were acquired at an average price of C$61.04 per share, for a total transaction of C$152,600.00.
• On Friday, June 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired 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 acquired at an average cost of C$65.98 per share, for a total transaction of C$164,950.00.

Tourmaline Oil Trading Up 0.2%

Shares of TSE:TOU traded up C$0.10 on Friday, reaching C$62.28. 455,542 shares of the company traded hands, compared to its average volume of 2,690,033. The stock has a market capitalization of C$24.20 billion, a P/E ratio of 67.70, a price-to-earnings-growth ratio of 1.72 and a beta of -0.29. Tourmaline Oil Corp. has a 52 week low of C$56.91 and a 52 week high of C$70.57. The business’s 50-day simple moving average is C$61.13 and its 200 day simple moving average is C$63.10. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24.

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

Tourmaline Oil Dividend Announcement

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

Analysts Set New Price Targets

TOU has been the topic of a number of research reports. TD lifted 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 note on Wednesday, July 22nd. BMO Capital Markets downgraded Tourmaline Oil from an “outperform” rating to a “market perform” rating and upped their price target for the stock from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research note on Thursday, May 7th. Jefferies Financial Group increased their target price on Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. Finally, Desjardins set a C$68.00 price target on Tourmaline Oil and gave the company a “hold” rating in a report on Friday, July 17th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and an average price target 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.