Tourmaline Oil (TSE:TOU) Insider Purchases C$297,600.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 5,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were acquired at an average price of C$59.52 per share, with a total value of C$297,600.00. Following the completion of the transaction, the insider owned 8,107,678 shares of the company’s stock, valued at approximately C$482,568,994.56. The trade was a 0.06% increase in their position.

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

• On Monday, June 15th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price of C$61.04 per share, for a total transaction of C$152,600.00.
• On Friday, June 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price 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 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 acquired 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 price of C$64.60 per share, for a total transaction 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 price of C$59.45 per share, for a total transaction of C$297,250.00.
• On Wednesday, March 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Stock Performance

Tourmaline Oil stock opened at C$60.69 on Friday. The company has a 50 day moving average price of C$63.64 and a 200-day moving average price of C$63.22. 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 Corp. has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57. The company has a market capitalization of C$23.57 billion, a PE ratio of 33.53, a P/E/G ratio of 1.72 and a beta of -0.24.

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. The company had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. As a group, equities analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Dividend Announcement

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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Tourmaline Oil’s dividend payout ratio is presently 110.50%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Raymond James Financial lifted their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Canaccord Genuity Group cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a report on Thursday, May 7th. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. ATB Cormark Capital Markets reduced their price target on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Finally, Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus 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.