Tourmaline Oil (TSE:TOU) Insider Mike Rose Buys 2,500 Shares

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 2,500 shares of the firm’s stock in a transaction dated Friday, June 26th. The stock was bought at an average price of C$59.84 per share, with a total value of C$149,600.00. Following the purchase, the insider directly owned 8,115,178 shares in the company, valued at approximately C$485,612,251.52. This trade represents a 0.03% increase in their position.

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

• On Wednesday, June 24th, Mike Rose bought 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 bought 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 price of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were 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 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 purchased at an average price of C$63.70 per share, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were purchased 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 bought 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$65.20 per share, with a total value of C$326,000.00.
• On Friday, May 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired 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 acquired at an average cost of C$59.45 per share, with a total value of C$297,250.00.

Tourmaline Oil Trading Up 0.2%

TSE:TOU opened at C$60.16 on Friday. The stock has a 50-day simple moving average of C$63.57 and a 200-day simple moving average of C$63.08. The stock has a market cap of C$23.36 billion, a P/E ratio of 33.24, a P/E/G ratio of 1.72 and a beta of -0.24. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57. 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 (TSE:TOU) last issued its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share 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, analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TOU shares. Royal Bank Of Canada lowered their target price on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, March 6th. ATB Cormark Capital Markets reduced 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 research report on Friday, March 6th. BMO Capital Markets lowered Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Finally, Raymond James Financial boosted their target price on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Three equities research 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 has a consensus rating of “Moderate Buy” and a consensus price target 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.