Key Points
- Insider buying continued: Tourmaline Oil insider Mike Rose bought 2,500 shares at C$63.70 each, adding to several recent purchases over the past month.
- Large existing stake: After the latest trade, Rose directly owned 8,090,178 shares valued at about C$515.3 million, underscoring his significant exposure to the company.
- Company backdrop: Tourmaline Oil recently reported C$1.69 EPS and pays a quarterly dividend of C$0.50 per share, while analysts currently rate the stock a Moderate Buy with a C$71.00 consensus price target.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction on Thursday, May 28th. The shares were purchased at an average cost of C$63.70 per share, with a total value of C$159,250.00. Following the completion of the purchase, the insider directly owned 8,090,178 shares of the company's stock, valued at approximately C$515,344,338.60. This represents a 0.03% increase in their position.
Mike Rose also recently made the following trade(s):
- On Monday, May 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$65.98 per share, with a total value of C$164,950.00.
- On Thursday, May 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$65.20 per share, with a total value of C$326,000.00.
- On Friday, May 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$64.60 per share, with a total value of C$323,000.00.
- On Friday, April 24th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$68.50 per share, with a total value of C$171,250.00.
Tourmaline Oil Price Performance
TOU stock opened at C$64.10 on Friday. 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 Corp. has a one year low of C$56.72 and a one year high of C$70.57. The firm has a market capitalization of C$24.89 billion, a PE ratio of 35.41, a P/E/G ratio of 1.72 and a beta of -0.12. The firm has a 50-day moving average of C$64.79 and a two-hundred day moving average of C$63.12.
Tourmaline Oil (TSE:TOU - Get Free Report) last posted its quarterly earnings data 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 company had revenue of C$1.78 billion during the quarter. On average, analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.
Tourmaline Oil Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given 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 3.1%. Tourmaline Oil's dividend payout ratio (DPR) is presently 110.50%.
Analyst Ratings Changes
A number of brokerages have commented on TOU. Scotiabank upgraded Tourmaline Oil to a "strong-buy" rating in a research report on Wednesday, April 1st. Desjardins raised their price objective on 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. Raymond James Financial raised their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. ATB Cormark Capital Markets decreased their price objective 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. Finally, Royal Bank Of Canada reduced their price target on Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating for the company in a report on Friday, March 6th. Three investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$71.00.
Check Out Our Latest Stock Analysis on Tourmaline Oil
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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