Tourmaline Oil (TSE:TOU) Director Jill Terilee Angevine Acquires 766 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) Director Jill Terilee Angevine acquired 766 shares of the company’s stock in a transaction on Monday, July 6th. The shares were bought at an average price of C$59.00 per share, with a total value of C$45,194.00. Following the completion of the purchase, the director directly owned 71,766 shares of the company’s stock, valued at approximately C$4,234,194. This represents a 1.08% increase in their ownership of the stock.

Tourmaline Oil Stock Up 2.2%

Shares of TSE:TOU opened at C$60.28 on Wednesday. The company’s fifty day moving average is C$63.50 and its 200-day moving average is C$62.92. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. 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 capitalization of C$23.41 billion, a PE ratio of 33.30, a P/E/G ratio of 1.72 and a beta of -0.27.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. The business 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%. Equities research analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TOU shares. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research note on Thursday, May 7th. Finally, Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.