Insider Buying: Tourmaline Oil (TSE:TOU) Insider Acquires C$149,600.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose bought 2,500 shares of the business’s stock in a transaction on Friday, June 26th. The stock was bought at an average price of C$59.84 per share, with a total value of C$149,600.00. Following the purchase, the insider owned 8,115,178 shares in the company, valued at C$485,612,251.52. This trade represents a 0.03% increase in their ownership of the stock.

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

• On Wednesday, June 24th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.10 per share, for a total transaction of C$147,750.00.
• On Thursday, June 18th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$59.52 per share, for a total transaction of C$297,600.00.
• On Monday, June 15th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost 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 shares were purchased at an average price 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 shares were acquired 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 purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price 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 shares were purchased at an average price 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 stock was acquired at an average price of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$59.45 per share, with a total value of C$297,250.00.

Tourmaline Oil Stock Performance

Shares of TOU opened at C$60.16 on Monday. The firm’s 50-day moving average price is C$63.57 and its 200-day moving average price is C$63.07. The firm has a market capitalization of C$23.36 billion, a price-to-earnings ratio of 33.24, a PEG 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. Tourmaline Oil Corp. has a 1-year low of C$56.72 and a 1-year high of C$70.57.

Tourmaline Oil (TSE:TOU) last posted 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 return on equity of 4.40% and a net margin of 12.79%.The business had revenue of C$1.78 billion during the quarter. Sell-side analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date is Monday, June 15th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 110.50%.

Wall Street Analysts Forecast Growth

A number of brokerages 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 stock from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Raymond James Financial increased their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Royal Bank Of Canada cut their target price 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. Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price for the company. in a research note on Thursday, May 7th. Finally, ATB Cormark Capital Markets lowered their price target 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. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Tourmaline Oil has a consensus rating of “Moderate Buy” and a consensus 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.