Insider Buying: Tourmaline Oil (TSE:TOU) Insider Acquires C$305,750.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of the stock in a transaction dated Friday, September 25th. The stock was purchased at an average price of C$61.15 per share, with a total value of C$305,750.00. Following the purchase, the insider owned 8,152,678 shares in the company, valued at C$498,536,259.70. This trade represents a 0.06% increase in their ownership of the stock.

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

• On Friday, September 11th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$61.45 per share, for a total transaction of C$307,250.00.
• On Friday, August 21st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$61.87 per share, for a total transaction of C$309,350.00.
• On Wednesday, August 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$60.00 per share, with a total value 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, with a total value of C$309,200.00.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$61.38 on Monday. The company’s fifty day moving average price is C$61.88 and its 200-day moving average price is C$63.00. The stock has a market cap of C$23.85 billion, a PE ratio of 66.72, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26. 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 Corp. has a 12 month low of C$57.95 and a 12 month high of C$70.57.

Tourmaline Oil (TSE:TOU) last issued 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 net margin of 6.50% and a return on equity of 2.37%. The company had revenue of C$1.50 billion during the quarter. On average, equities analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TOU shares. TD lifted their price objective on 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. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Jefferies Financial Group increased their price objective on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$70.36.

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.