Insider Buying: Tourmaline Oil (TSE:TOU) Insider Acquires 2,500 Shares of Stock

by · The Cerbat Gem

Tourmaline Oil Corp. (TSE:TOU – Get Free Report) insider Mike Rose purchased 2,500 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were purchased at an average cost of C$58.72 per share, for a total transaction of C$146,800.00. Following the completion of the transaction, the insider directly owned 8,032,678 shares of the company’s stock, valued at approximately C$471,678,852.16. This represents a 0.03% increase in their position.

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

  • On Friday, November 7th, Mike Rose purchased 10,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.83 per share, with a total value of C$598,300.00.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock traded down C$0.47 during trading on Wednesday, hitting C$58.67. 1,641,602 shares of the stock were exchanged, compared to its average volume of 2,240,914. The stock has a market capitalization of C$22.71 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 1.72 and a beta of -0.03. The company has a fifty day moving average price of C$61.64 and a 200-day moving average price of C$60.86. Tourmaline Oil Corp. has a 1-year low of C$55.40 and a 1-year high of C$70.83. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13.

Tourmaline Oil (TSE:TOU – Get Free Report) last issued its earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share (EPS) for the quarter. The business had revenue of C$1.40 billion during the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. As a group, equities analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, December 15th. Tourmaline Oil’s payout ratio is currently 52.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TOU shares. Scotiabank cut their price target on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. TD Securities downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$73.00 to C$68.00 in a report on Tuesday, September 30th. The Goldman Sachs Group upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Desjardins upgraded shares of Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 price objective for the company in a research report on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$72.13.

View Our Latest Research Report on TOU

Tourmaline Oil Company Profile

(Get Free Report)

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.

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