Key Points
- Insider buying continued: Tourmaline Oil insider Mike Rose bought 5,000 shares on May 14 at C$65.20 each, bringing his total ownership to more than 8.08 million shares. He also made similar purchases in early May, late April, and March.
- Stock and financial snapshot: TOU opened at C$66.35 and has traded between C$56.72 and C$70.57 over the past year. The company reported C$1.69 EPS and C$1.78 billion in quarterly revenue in its latest earnings release.
- Dividend and analyst view: Tourmaline recently paid a quarterly dividend of C$0.50 per share, equal to a 3.0% annualized yield. Analysts currently rate the stock a Moderate Buy with a consensus price target of C$71.00.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose bought 5,000 shares of the firm's stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of C$65.20 per share, with a total value of C$326,000.00. Following the completion of the transaction, the insider owned 8,085,178 shares in the company, valued at C$527,153,605.60. This represents a 0.06% increase in their ownership of the stock.
Mike Rose also recently made the following trade(s):
- On Friday, May 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$64.60 per share, for a total transaction of C$323,000.00.
- On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased 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 purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$68.50 per share, for a total transaction of C$171,250.00.
Tourmaline Oil Stock Performance
TOU stock opened at C$66.35 on Friday. 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 business has a 50-day moving average price of C$64.53 and a 200 day moving average price of C$62.74. The company has a market capitalization of C$25.76 billion, a P/E ratio of 36.66, a PEG ratio of 1.72 and a beta of -0.12.
Tourmaline Oil (TSE:TOU - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. The business had revenue of C$1.78 billion for the quarter. As a group, equities research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.
Tourmaline Oil Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders 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 dividend on an annualized basis and a yield of 3.0%. Tourmaline Oil's dividend payout ratio is currently 110.50%.
Wall Street Analyst Weigh In
TOU has been the topic of a number of analyst reports. ATB Cormark Capital Markets cut their price target on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating on the stock in a report on Friday, March 6th. Raymond James Financial upped their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. BMO Capital Markets lowered Tourmaline Oil from an "outperform" rating to a "market perform" rating and lifted their target price for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 target price for the company. in a report on Thursday, May 7th. Finally, Jefferies Financial Group decreased their price target on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Tourmaline Oil has a consensus rating of "Moderate Buy" and a consensus price target of C$71.00.
Read Our Latest Stock Report 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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