Insider Buying: Tourmaline Oil (TSE:TOU) Insider Purchases C$300,000.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction on Wednesday, August 5th. The shares were purchased at an average price of C$60.00 per share, for a total transaction of C$300,000.00. Following the acquisition, the insider directly owned 8,132,678 shares in the company, valued at approximately C$487,960,680. This trade represents a 0.06% increase in their position.

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

• On Friday, July 31st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$61.84 per share, with a total value of C$309,200.00.
• On Friday, June 26th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.84 per share, with a total value of C$149,600.00.
• On Wednesday, June 24th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$59.10 per share, for a total transaction of C$147,750.00.
• On Thursday, June 18th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.52 per share, for a total transaction of C$297,600.00.
• On Monday, June 15th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was purchased 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 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 acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased 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 shares were purchased 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 price of C$65.98 per share, for a total transaction of C$164,950.00.
• On Thursday, May 14th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$65.20 per share, for a total transaction of C$326,000.00.

Tourmaline Oil Stock Down 0.7%

TSE:TOU opened at C$59.15 on Friday. The firm’s 50-day moving average price is C$61.84 and its 200-day moving average price is C$63.22. The company has a market capitalization of C$22.99 billion, a PE ratio of 64.29, a P/E/G ratio of 1.72 and a beta of -0.29. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47. Tourmaline Oil Corp. has a 1-year low of C$56.72 and a 1-year 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 predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 217.39%.

Analyst Ratings Changes

TOU has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. 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. TD raised their price objective on 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. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Canaccord Genuity Group downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.