Mike Rose Buys 5,000 Shares of Tourmaline Oil Corp. (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of C$64.65 per share, with a total value of C$323,258.00.

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

• On Friday, March 22nd, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$59.42 per share, with a total value of C$148,543.00.
• On Friday, March 8th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$62.25 per share, for a total transaction of C$311,259.00.
• On Monday, February 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$55.41 per share, with a total value of C$277,025.00.

Tourmaline Oil Price Performance

Shares of TOU opened at C$64.78 on Friday. The company has a debt-to-equity ratio of 8.04, a quick ratio of 0.47 and a current ratio of 0.81. The firm has a market cap of C$22.77 billion, a PE ratio of 12.88, a PEG ratio of 1.72 and a beta of 1.40. Tourmaline Oil Corp. has a twelve month low of C$53.45 and a twelve month high of C$74.21. The firm’s 50 day moving average price is C$63.47 and its 200 day moving average price is C$62.95.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.41 by C$0.59. The business had revenue of C$1.66 billion for the quarter, compared to the consensus estimate of C$1.49 billion. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. As a group, research analysts expect that Tourmaline Oil Corp. will post 4.710507 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 16th will be given a $0.32 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.30. Tourmaline Oil’s payout ratio is currently 23.86%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TOU shares. TD Securities reduced their target price on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating for the company in a report on Thursday, March 7th. National Bankshares reduced their price objective on Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating for the company in a research note on Wednesday, January 10th. ATB Capital lowered their target price on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 20th. Raymond James reduced their price target on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating for the company in a research report on Friday, January 19th. Finally, Scotiabank decreased their price target on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of C$78.38.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.