Key Points
- Insider buying: Tourmaline Oil insider Mike Rose bought 5,000 shares on May 29 for C$318,950 at C$63.79 per share, bringing his total stake to about 1.505 million shares.
- Recent accumulation: Rose has been consistently adding to his position over the past several weeks, with multiple purchases in May and March at prices ranging from C$59.45 to C$68.50 per share.
- Stock and outlook: Tourmaline Oil shares were down 1.7% to C$63.02, while analysts currently rate the stock a Moderate Buy with a consensus target price of C$71.00.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of C$63.79 per share, with a total value of C$318,950.00. Following the completion of the purchase, the insider owned 1,505,000 shares in the company, valued at approximately C$96,003,950. This trade represents a 0.33% increase in their position.
Mike Rose also recently made the following trade(s):
- On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$63.70 per share, with a total value of C$159,250.00.
- On Monday, May 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought 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 purchased 5,000 shares of Tourmaline Oil stock. The stock was bought 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 purchased 5,000 shares of Tourmaline Oil stock. The stock was bought 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 purchased 5,000 shares of Tourmaline Oil stock. The stock was 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 bought 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$68.50 per share, for a total transaction of C$171,250.00.
Tourmaline Oil Stock Down 1.7%
TSE TOU opened at C$63.02 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. The company's 50 day simple moving average is C$64.71 and its 200 day simple moving average is C$63.12. 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 market capitalization of C$24.47 billion, a P/E ratio of 34.82, a PEG ratio of 1.72 and a beta of -0.12.
Tourmaline Oil (TSE:TOU - Get Free Report) last released 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. Equities research analysts expect 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, March 16th. Tourmaline Oil's payout ratio is presently 110.50%.
Wall Street Analyst Weigh In
TOU has been the topic of a number of research reports. BMO Capital Markets downgraded shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a "strong-buy" rating in a report on Wednesday, April 1st. Desjardins boosted their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a "buy" rating in a report on Monday, March 9th. Raymond James Financial boosted their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Finally, ATB Cormark Capital Markets dropped their target price on shares of 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. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$71.00.
View Our Latest Analysis 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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