Key Points
- Mike Rose, a Tourmaline Oil insider, purchased 5,000 shares on April 24 at an average price of C$59.45 (C$297,250), increasing his direct holdings to 1,500,000 shares (a 0.33% rise); he also bought 10,000 shares on Feb. 2 and 2,500 shares on Mar. 25.
- Tourmaline trades near C$59.83 with a market cap of C$23.17B and a P/E of 87.99, recently paid a quarterly dividend of C$0.50 (C$2.00 annualized, ~3.3% yield) despite a high payout ratio of 294.12%, and carries a consensus analyst rating of "Buy" with a C$71.25 target.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Friday, April 24th. The shares were purchased at an average cost of C$59.45 per share, with a total value of C$297,250.00. Following the completion of the transaction, the insider directly owned 1,500,000 shares of the company's stock, valued at C$89,175,000. This trade represents a 0.33% increase in their ownership of the stock.
Mike Rose also recently made the following trade(s):
- On Wednesday, March 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$68.50 per share, with a total value of C$171,250.00.
- On Monday, February 2nd, Mike Rose bought 10,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$62.21 per share, for a total transaction of C$622,100.00.
Tourmaline Oil Trading Down 1.0%
TSE TOU opened at C$59.83 on Friday. The stock has a market capitalization of C$23.17 billion, a price-to-earnings ratio of 87.99, a PEG ratio of 1.72 and a beta of -0.10. The stock's 50 day moving average price is C$63.93 and its two-hundred day moving average price is C$62.31. The company has a debt-to-equity ratio of 12.25, a quick ratio of 0.47 and a current ratio of 0.83. Tourmaline Oil Corp. has a 52 week low of C$56.72 and a 52 week high of C$70.57.
Tourmaline Oil (TSE:TOU - Get Free Report) last issued its quarterly 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 return on equity of 1.65% and a net margin of 5.03%. As a group, analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.
Tourmaline Oil Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date was Monday, March 16th. This represents a $2.00 annualized dividend and a yield of 3.3%. Tourmaline Oil's dividend payout ratio is presently 294.12%.
Analyst Upgrades and Downgrades
Several brokerages have commented on TOU. Canadian Imperial Bank of Commerce cut their price target on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Desjardins raised their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a "buy" rating in a report on Monday, March 9th. Raymond James Financial lifted their target price on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Scotiabank upgraded Tourmaline Oil to a "strong-buy" rating in a report on Wednesday, April 1st. Finally, Jefferies Financial Group reduced their price target on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tourmaline Oil currently has an average rating of "Buy" and a consensus price target of C$71.25.
Check Out Our Latest Stock Report on Tourmaline Oil
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
