Key Points
- Insider buying continued: Tourmaline Oil insider Mike Rose bought 5,000 shares on June 5 at an average price of C$63.96, bringing his direct ownership to 8,095,178 shares. This follows several other recent purchases in late May and April.
- Quarterly dividend announced: The company declared a quarterly dividend of C$0.50 per share, payable June 30, for an annualized yield of about 3.1%. The payout ratio is reported at 110.50%.
- Analysts remain cautiously positive: Wall Street has a consensus rating of Moderate Buy on Tourmaline Oil, with an average price target of C$71.00. Recent ratings have been mixed, including both upgrades and downgrades.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose bought 5,000 shares of the firm's stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of C$63.96 per share, with a total value of C$319,800.00. Following the transaction, the insider directly owned 8,095,178 shares in the company, valued at approximately C$517,767,584.88. This trade represents a 0.06% increase in their position.
Mike Rose also recently made the following trade(s):
- On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$63.79 per share, with a total value of C$318,950.00.
- On Thursday, May 28th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were purchased 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 bought 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 bought 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 bought 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 bought 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 bought 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 Stock Performance
TSE:TOU opened at C$63.73 on Friday. The company has a market capitalization of C$24.75 billion, a PE ratio of 35.21, a P/E/G ratio of 1.72 and a beta of -0.24. The company has a 50 day simple moving average of C$64.29 and a two-hundred day simple moving average of C$63.23. 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 fifty-two week low of C$56.72 and a fifty-two week high of C$70.57.
Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. The company had revenue of C$1.78 billion during the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. Research analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.
Tourmaline Oil Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. Tourmaline Oil's dividend payout ratio (DPR) is 110.50%.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Scotiabank raised shares of Tourmaline Oil to a "strong-buy" rating in a research report on Wednesday, April 1st. Royal Bank Of Canada reduced their price objective on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating for the company in a research report on Friday, March 6th. Desjardins raised their price objective on shares of 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. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 price objective for the company. in a research report on Thursday, May 7th. Finally, Raymond James Financial raised their price objective on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$71.00.
Read Our Latest Stock Analysis 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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
