Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys C$604,200.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 10,000 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were bought at an average price of C$60.42 per share, with a total value of C$604,200.00. Following the completion of the transaction, the insider owned 8,187,742 shares in the company, valued at C$494,703,371.64. This represents a 0.12% increase in their ownership of the stock.

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

• On Friday, September 19th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.19 per share, with a total value of C$305,928.00.
• On Tuesday, August 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$58.36 per share, with a total value of C$291,793.00.

Tourmaline Oil Price Performance

TOU stock opened at C$59.67 on Monday. The company has a 50 day simple moving average of C$59.41 and a 200 day simple moving average of C$61.84. The stock has a market cap of C$23.08 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.72 and a beta of 0.35. Tourmaline Oil Corp. has a 1 year low of C$55.40 and a 1 year high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a $0.50 dividend. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 15th. This represents a $2.00 annualized dividend and a yield of 3.4%. Tourmaline Oil’s dividend payout ratio is currently 42.29%.

Analyst Ratings Changes

Several equities analysts have issued reports on TOU shares. CIBC decreased their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an “outperform” rating for the company in a research report on Thursday, July 31st. ATB Capital upped their price target on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Raymond James Financial cut shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and decreased their price target for the company from C$76.00 to C$74.00 in a research report on Thursday, July 31st. TD Securities cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and decreased their price target for the company from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. Finally, Royal Bank Of Canada decreased their price target on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and a consensus target price of C$74.00.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.