Key Points
- Insider buying: Tourmaline Oil insider Mike Rose bought 2,500 shares on May 25 at C$65.98 each, worth about C$164,950. This adds to several recent purchases he made in April and May.
- Recent company snapshot: Tourmaline Oil stock opened at C$65.26, near its 50-day and 200-day moving averages, with a market value of C$25.34 billion. The shares have traded between C$56.72 and C$70.57 over the past year.
- Analyst and dividend backdrop: The company reported C$1.69 EPS for the latest quarter and pays a quarterly dividend of C$0.50, or C$2.00 annualized for a 3.1% yield. Analysts currently view the stock as a Moderate Buy with an average target price of C$71.00.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction dated Monday, May 25th. The stock was bought at an average price of C$65.98 per share, with a total value of C$164,950.00. Following the completion of the transaction, the insider owned 8,087,678 shares of the company's stock, valued at C$533,624,994.44. This represents a 0.03% increase in their position.
Mike Rose also recently made the following trade(s):
- On Thursday, May 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$65.20 per share, for a total transaction of C$326,000.00.
- On Friday, May 8th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$64.60 per share, with a total value of C$323,000.00.
- On Friday, April 24th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.45 per share, with a total value of C$297,250.00.
- On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$68.50 per share, for a total transaction of C$171,250.00.
Tourmaline Oil Price Performance
TOU stock opened at C$65.26 on Tuesday. The firm has a 50 day moving average of C$64.95 and a 200-day moving average of C$63.04. The firm has a market capitalization of C$25.34 billion, a P/E ratio of 36.06, a price-to-earnings-growth ratio of 1.72 and a beta of -0.12. Tourmaline Oil Corp. has a 12 month low of C$56.72 and a 12 month high of C$70.57. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14.
Tourmaline Oil (TSE:TOU - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share 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, sell-side analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.
Tourmaline Oil Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. Tourmaline Oil's dividend payout ratio is presently 110.50%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. BMO Capital Markets lowered Tourmaline Oil from an "outperform" rating to a "market perform" rating and lifted their price objective for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Raymond James Financial upped their target price on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Royal Bank Of Canada lowered their price target on Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating on the stock in a report on Friday, March 6th. Canaccord Genuity Group downgraded Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 price target for the company. in a research report on Thursday, May 7th. Finally, Scotiabank raised Tourmaline Oil to a "strong-buy" rating in a report on Wednesday, April 1st. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$71.00.
Check Out Our Latest Stock 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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