Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys C$319,800.00 in Stock

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

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

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

Tourmaline Oil Price Performance

TOU opened at C$63.73 on Monday. The company has a 50-day moving average of C$64.29 and a 200-day moving average of C$63.25. The company has a market capitalization of C$24.75 billion, a P/E ratio of 35.21, a PEG ratio of 1.72 and a beta of -0.24. Tourmaline Oil Corp. has a 1-year low of C$56.72 and a 1-year high of C$70.57. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88.

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

Tourmaline Oil Dividend Announcement

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

Wall Street Analyst Weigh In

TOU has been the subject of a number of recent research reports. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research report on Thursday, May 7th. ATB Cormark Capital Markets lowered their price objective on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Desjardins boosted their price objective 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. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada lowered their price objective on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and an average 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.