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

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 2,500 shares of the firm’s stock in a transaction dated Monday, May 25th. The stock was acquired at an average cost of C$65.98 per share, with a total value of C$164,950.00. Following the transaction, the insider owned 8,087,678 shares of the company’s stock, valued at C$533,624,994.44. This trade represents a 0.03% increase in their ownership of the stock.

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

• On Thursday, May 14th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$65.20 per share, with a total value of C$326,000.00.
• On Friday, May 8th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was acquired 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 bought 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Stock Down 3.0%

TOU traded down C$1.99 during trading on Monday, reaching C$65.24. 410,455 shares of the stock traded hands, compared to its average volume of 2,706,198. The stock has a market cap of C$25.33 billion, a price-to-earnings ratio of 36.04, a price-to-earnings-growth ratio of 1.72 and a beta of -0.12. Tourmaline Oil Corp. has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47. The stock’s 50-day simple moving average is C$64.98 and its two-hundred day simple moving average is C$63.01.

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 firm had revenue of C$1.78 billion during the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. As a group, equities research analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 110.50%.

Analysts Set New Price Targets

TOU has been the subject of a number of research reports. ATB Cormark Capital Markets reduced their price objective on 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. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research report on Thursday, May 7th. Desjardins lifted their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Finally, BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price objective for the company 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 given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tourmaline Oil currently has an average 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.