Key Points
- Insider buying: Tourmaline Oil insider Mike Rose bought 5,000 shares at C$64.60 each, totaling C$323,000. This was his third recent purchase, following buys in April and March.
- Company performance: Tourmaline Oil opened at C$65.87 and has a market cap of C$25.58 billion. The stock has traded between C$56.72 and C$70.57 over the past 52 weeks.
- Analyst view and income: Analysts currently have a Moderate Buy consensus with a C$71.00 target price. The company also pays a quarterly dividend of C$0.50 per share, or C$2.00 annually, for a 3.0% yield.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of C$64.60 per share, for a total transaction of C$323,000.00. Following the completion of the purchase, the insider owned 8,080,178 shares in the company, valued at C$521,979,498.80. This trade represents a 0.06% increase in their position.
Mike Rose also recently made the following trade(s):
- On Friday, April 24th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$59.45 per share, for a total transaction of C$297,250.00.
- On Wednesday, March 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$68.50 per share, for a total transaction of C$171,250.00.
Tourmaline Oil Stock Performance
TSE:TOU opened at C$65.87 on Tuesday. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57. The firm has a market cap of C$25.58 billion, a price-to-earnings ratio of 36.39, a PEG ratio of 1.72 and a beta of -0.12. The business's fifty day moving average is C$64.46 and its 200 day moving average is C$62.65.
Tourmaline Oil (TSE:TOU - Get Free Report) last released 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 company had revenue of C$1.78 billion for the quarter. Research analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.
Tourmaline Oil Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Monday, March 16th. Tourmaline Oil's payout ratio is presently 110.50%.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Canaccord Genuity Group lowered Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 price objective on the stock. in a research note on Thursday, May 7th. Raymond James Financial boosted their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Royal Bank Of Canada decreased their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating on the stock in a research note on Friday, March 6th. Canadian Imperial Bank of Commerce decreased their price objective on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Finally, ATB Cormark Capital Markets reduced their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating for the company in a research report on Friday, March 6th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$71.00.
Check Out Our Latest Research 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.
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