Earl Henry Mckinnon Sells 4,700 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Earl Henry Mckinnon sold 4,700 shares of the business’s stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total value of C$283,645.00. Following the transaction, the insider owned 132,280 shares of the company’s stock, valued at approximately C$7,983,098. The trade was a 3.43% decrease in their ownership of the stock.

Tourmaline Oil Price Performance

Shares of TSE:TOU traded up C$0.29 on Friday, hitting C$60.00. The company’s stock had a trading volume of 241,350 shares, compared to its average volume of 2,884,359. The company has a market capitalization of C$23.30 billion, a PE ratio of 33.15, a PEG ratio of 1.72 and a beta of -0.24. 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 company has a 50-day simple moving average of C$63.52 and a 200 day simple moving average of C$62.96. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. The company 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%. Sell-side analysts forecast that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, June 15th. Tourmaline Oil’s payout ratio is currently 110.50%.

Analyst Ratings Changes

A number of analysts have recently issued reports on TOU shares. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Friday, June 26th. Raymond James Financial lifted their price target on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Desjardins upped their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, ATB Cormark Capital Markets reduced their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Tourmaline Oil presently has a consensus 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.