Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys C$147,750.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 2,500 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were acquired at an average price of C$59.10 per share, for a total transaction of C$147,750.00. Following the completion of the purchase, the insider owned 8,112,678 shares in the company, valued at approximately C$479,459,269.80. The trade was a 0.03% increase in their position.

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

• On Friday, June 26th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$59.84 per share, with a total value of C$149,600.00.
• On Thursday, June 18th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price 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 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 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 shares were acquired 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired 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 bought 2,500 shares of Tourmaline Oil stock. The stock was acquired 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, 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 bought 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 shares were bought at an average cost of C$59.45 per share, for a total transaction of C$297,250.00.

Tourmaline Oil Stock Performance

Shares of TSE TOU opened at C$60.16 on Friday. The firm’s 50-day moving average price is C$63.57 and its 200-day moving average price is C$63.08. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57. The company has a market cap of C$23.36 billion, a PE ratio of 33.24, a PEG ratio of 1.72 and a beta of -0.24. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14.

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

Tourmaline Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, June 15th. Tourmaline Oil’s payout ratio is 110.50%.

Analysts Set New Price Targets

TOU has been the topic of several research analyst reports. Desjardins increased their price target on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a report on Monday, March 9th. ATB Cormark Capital Markets cut their price objective on 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. Royal Bank Of Canada reduced their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. 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. Finally, BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tourmaline Oil presently has an average rating of “Moderate Buy” and a consensus price target of C$71.00.

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.