Insider Buying: Tourmaline Oil (TSE:TOU) Insider Acquires C$323,000.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were purchased at an average cost of C$64.60 per share, with a total value of C$323,000.00. Following the completion of the transaction, the insider owned 8,080,178 shares in the company, valued at approximately C$521,979,498.80. The trade was a 0.06% increase in their position.

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

• On Friday, April 24th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$59.45 per share, with a total value of C$297,250.00.
• On Wednesday, March 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Price Performance

Tourmaline Oil stock opened at C$65.39 on Thursday. The stock has a market cap of C$25.39 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 1.72 and a beta of -0.12. The company has a fifty day simple moving average of C$64.53 and a 200-day simple moving average of C$62.71. Tourmaline Oil Corp. has a 12-month low of C$56.72 and a 12-month high of C$70.57. The company has a current ratio of 0.88, a quick ratio of 0.47 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 (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 analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, March 16th. Tourmaline Oil’s dividend payout ratio is currently 110.50%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Jefferies Financial Group cut their price target on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research note on Thursday, May 7th. Raymond James Financial lifted their price target on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Finally, Desjardins lifted their price objective on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. 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.com, the stock presently has a consensus 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.