Insider Buying: Tourmaline Oil (TSE:TOU) Insider Acquires 5,000 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction on Tuesday, September 29th. The shares were acquired at an average cost of C$60.28 per share, for a total transaction of C$301,400.00. Following the purchase, the insider owned 8,157,678 shares in the company, valued at approximately C$491,744,829.84. This trade represents a 0.06% increase in their ownership of the stock.

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

• On Friday, September 25th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.15 per share, with a total value of C$305,750.00.
• On Friday, September 11th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.45 per share, for a total transaction of C$307,250.00.
• On Friday, August 21st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.87 per share, for a total transaction of C$309,350.00.
• On Wednesday, August 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$60.00 per share, with a total value of C$300,000.00.
• On Friday, July 31st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$61.84 per share, with a total value of C$309,200.00.

Tourmaline Oil Trading Down 1.8%

TOU stock traded down C$1.10 on Tuesday, hitting C$59.86. 749,707 shares of the company were exchanged, compared to its average volume of 2,672,119. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47. The stock has a market capitalization of C$23.26 billion, a price-to-earnings ratio of 65.07, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26. Tourmaline Oil Corp. has a twelve month low of C$57.95 and a twelve month high of C$70.57. The business’s fifty day moving average is C$61.85 and its two-hundred day moving average is C$62.99.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 earnings per share (EPS) for the quarter. The company had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. As a group, research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on TOU. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the stock a “hold” rating in a research note on Friday, July 17th. TD lifted their price target on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Jefferies Financial Group raised their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$70.36.

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.