Earl Henry Mckinnon Sells 4,700 Shares of Tourmaline Oil (TSE:TOU) Stock

Tourmaline Oil Corp. (TSE:TOU) insider Earl Henry Mckinnon sold 4,700 shares of the firm’s stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the completion of the transaction, the insider directly owned 132,280 shares in the company, valued at C$7,983,098. This represents a 3.43% decrease in their position.

Tourmaline Oil Trading Up 0.2%

Shares of TOU opened at C$59.83 on Friday. The firm has a market capitalization of C$23.23 billion, a price-to-earnings ratio of 33.06, a PEG ratio of 1.72 and a beta of -0.27. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47. 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 50-day moving average of C$63.52 and a 200 day moving average of C$62.94.

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

Tourmaline Oil Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on TOU. Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price for the company. in a research report on Thursday, May 7th. BMO Capital Markets downgraded Tourmaline Oil from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Desjardins raised their price target on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company 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.