Tourmaline Oil (TSE:TOU) Insider Acquires 2,500 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 2,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were purchased at an average cost of C$61.04 per share, for a total transaction of C$152,600.00. Following the purchase, the insider directly owned 8,097,678 shares in the company, valued at approximately C$494,282,265.12. This trade represents a 0.03% increase in their ownership of the stock.

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

• On Friday, June 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$63.96 per share, with a total value of C$319,800.00.
• On Friday, May 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$65.98 per share, with a total value of C$164,950.00.
• On Thursday, May 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$65.20 per share, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$64.60 per share, for a total transaction of C$323,000.00.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price 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 stock was purchased at an average price of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Stock Down 3.0%

Shares of TOU stock traded down C$1.89 on Monday, reaching C$61.31. 3,281,135 shares of the stock were exchanged, compared to its average volume of 2,794,112. Tourmaline Oil Corp. has a twelve month low of C$56.72 and a twelve month high of C$70.57. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. The company has a market capitalization of C$23.81 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 1.72 and a beta of -0.24. The business’s 50 day moving average price is C$63.95 and its 200 day moving average price is C$63.30.

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

Tourmaline Oil Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, June 15th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 110.50%.

Analysts Set New Price Targets

Several analysts have commented on TOU shares. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target for the company. in a report on Thursday, May 7th. Desjardins increased their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. ATB Cormark Capital Markets cut their price target on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Finally, BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.