Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys C$58,880.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider James William Alexander Heard acquired 1,000 shares of the stock in a transaction dated Thursday, June 18th. The stock was acquired at an average cost of C$58.88 per share, with a total value of C$58,880.00. Following the transaction, the insider owned 67,476 shares of the company’s stock, valued at approximately C$3,972,986.88. This trade represents a 1.50% increase in their ownership of the stock.

James William Alexander Heard also recently made the following trade(s):

• On Friday, April 17th, James William Alexander Heard bought 1,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$59.08 per share, with a total value of C$59,080.00.

Tourmaline Oil Stock Performance

TSE:TOU opened at C$60.69 on Friday. The company has a market cap of C$23.57 billion, a P/E ratio of 33.53, a P/E/G ratio of 1.72 and a beta of -0.24. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The firm’s 50 day moving average is C$63.64 and its two-hundred day moving average is C$63.22. Tourmaline Oil Corp. has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57.

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

Tourmaline Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, June 15th. Tourmaline Oil’s payout ratio is currently 110.50%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Raymond James Financial raised their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Royal Bank Of Canada reduced their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets dropped their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Finally, Desjardins upped their price target 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. Three equities research 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. Based on data from MarketBeat.com, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and an average target price 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.