Key Points
- Mike Rose bought 2,500 shares of Tourmaline Oil at an average price of C$68.50 on March 25, bringing his stake to 8,060,178 shares (a 0.03% increase) after prior purchases of 10,000 shares on Feb 2 and 2,500 on Jan 14.
- The company declared a quarterly dividend of C$0.50 per share (C$2.00 annualized), implying a 2.9% yield; the ex-dividend date is March 16 and the dividend is payable March 31.
- Shares opened at C$68.51 (near a 1‑year high of C$70.73) with a market cap of C$26.53B, and analysts have a consensus Buy rating with a C$71.22 target price.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose bought 2,500 shares of the firm's stock in a transaction dated Wednesday, March 25th. The stock was acquired at an average cost of C$68.50 per share, with a total value of C$171,250.00. Following the transaction, the insider owned 8,060,178 shares of the company's stock, valued at C$552,122,193. This trade represents a 0.03% increase in their ownership of the stock.
Mike Rose also recently made the following trade(s):
- On Monday, February 2nd, Mike Rose purchased 10,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$62.21 per share, for a total transaction of C$622,100.00.
- On Wednesday, January 14th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$58.72 per share, with a total value of C$146,800.00.
Tourmaline Oil Stock Down 1.2%
Shares of Tourmaline Oil stock opened at C$68.51 on Thursday. Tourmaline Oil Corp. has a 1 year low of C$55.40 and a 1 year high of C$70.73. The company has a market cap of C$26.53 billion, a P/E ratio of 100.75, a P/E/G ratio of 1.72 and a beta of 0.00. The company has a current ratio of 0.83, a quick ratio of 0.47 and a debt-to-equity ratio of 12.25. The stock has a 50-day moving average price of C$63.52 and a 200 day moving average price of C$62.05.
Tourmaline Oil (TSE:TOU - Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share for the quarter. The business had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. As a group, analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.
Tourmaline Oil Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.9%. Tourmaline Oil's payout ratio is presently 294.12%.
Wall Street Analyst Weigh In
TOU has been the subject of a number of research analyst reports. Desjardins increased their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Canadian Imperial Bank of Commerce lowered their price target on shares of Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Raymond James Financial upped their price target on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Scotiabank cut their price objective on Tourmaline Oil from C$80.00 to C$75.00 and set an "outperform" rating for the company in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada reduced their price objective on 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. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of C$71.22.
Read Our Latest Analysis on TOU
About Tourmaline Oil
(
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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