Mike Rose Acquires 5,000 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of C$63.96 per share, with a total value of C$319,800.00. Following the purchase, the insider owned 8,095,178 shares in the company, valued at C$517,767,584.88. This represents a 0.06% increase in their position.

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

• On Friday, May 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$63.79 per share, with a total value of C$318,950.00.
• On Thursday, May 28th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$65.98 per share, with a total value of C$164,950.00.
• On Thursday, May 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$68.50 per share, with a total value of C$171,250.00.

Tourmaline Oil Stock Down 2.6%

Shares of TSE TOU opened at C$63.73 on Friday. Tourmaline Oil Corp. has a 12-month low of C$56.72 and a 12-month high of C$70.57. The stock has a market cap of C$24.75 billion, a PE ratio of 35.21, a P/E/G ratio of 1.72 and a beta of -0.24. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14. The company has a 50-day moving average of C$64.29 and a 200 day moving average of C$63.23.

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

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, June 15th. Tourmaline Oil’s payout ratio is presently 110.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TOU. BMO Capital Markets lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada reduced their price target on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. 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 report on Thursday, May 7th. Finally, Desjardins lifted their price target on shares of 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. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Tourmaline Oil presently has an average rating of “Moderate Buy” and an average target price 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.