Mike Rose Purchases 2,500 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were acquired at an average price of C$59.10 per share, for a total transaction of C$147,750.00. Following the completion of the purchase, the insider directly owned 8,112,678 shares in the company, valued at C$479,459,269.80. This represents a 0.03% increase in their position.

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

• On Thursday, June 18th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$61.04 per share, for a total transaction of C$152,600.00.
• On Friday, June 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$63.70 per share, with a total value of C$159,250.00.
• On Monday, May 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought 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 purchased 5,000 shares of Tourmaline Oil stock. The stock was bought 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were bought 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.45 per share, for a total transaction of C$297,250.00.

Tourmaline Oil Stock Up 0.3%

Shares of TSE TOU opened at C$60.02 on Friday. Tourmaline Oil Corp. has a 52 week low of C$56.72 and a 52 week high of C$70.57. The business has a 50-day simple moving average of C$63.58 and a two-hundred day simple moving average of C$63.10. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The company has a market cap of C$23.31 billion, a P/E ratio of 33.16, a P/E/G ratio of 1.72 and a beta of -0.24.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The firm had revenue of C$1.78 billion for the quarter. Research analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 3.3%. Tourmaline Oil’s payout ratio is currently 110.50%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TOU. BMO Capital Markets cut shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their target price for the stock from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Raymond James Financial upped their price target on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Canaccord Genuity Group downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research report on Thursday, May 7th. Finally, 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 note on Monday, March 9th. Three 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, the stock 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.