Key Points
- Insider buying: Tourmaline Oil insider Mike Rose bought 2,500 shares for C$152,600 at an average price of C$61.04, lifting his direct stake to 8,097,678 shares. This continues a recent pattern of repeated purchases over the past several weeks.
- Dividend update: The company declared a quarterly dividend of C$0.50 per share, payable June 30, for an annualized dividend of C$2.00 per share. That implies a yield of about 3.3%.
- Analyst sentiment and stock metrics: Analysts currently rate Tourmaline Oil as a Moderate Buy with a consensus target price of C$71.00. The shares recently traded around C$61.26, below the consensus target and within a 52-week range of C$56.72 to C$70.57.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 2,500 shares of the company's stock in a transaction on Monday, June 15th. The stock was bought at an average price of C$61.04 per share, for a total transaction of C$152,600.00. Following the completion of the purchase, the insider directly owned 8,097,678 shares of the company's stock, valued at C$494,282,265.12. The trade was a 0.03% increase in their ownership of the stock.
Mike Rose also recently made the following trade(s):
- On Friday, June 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$63.96 per share, for a total transaction of C$319,800.00.
- On Friday, May 29th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$63.79 per share, for a total transaction of C$318,950.00.
- On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price of C$63.70 per share, for a total transaction 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 price of C$65.98 per share, for a total transaction 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 price of C$65.20 per share, for a total transaction 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 price 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 stock was bought 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 stock was bought at an average price of C$68.50 per share, for a total transaction of C$171,250.00.
Tourmaline Oil Stock Performance
Shares of Tourmaline Oil stock opened at C$61.26 on Tuesday. The firm has a market capitalization of C$23.79 billion, a P/E ratio of 33.85, a P/E/G ratio of 1.72 and a beta of -0.24. Tourmaline Oil Corp. has a 52 week low of C$56.72 and a 52 week high of C$70.57. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The firm's 50 day moving average is C$63.89 and its two-hundred day moving average is C$63.30.
Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. The company had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. Research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.
Tourmaline Oil Announces Dividend
The firm also recently announced 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 is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Tourmaline Oil's dividend payout ratio (DPR) is 110.50%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on the stock. BMO Capital Markets lowered shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and raised their target price for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. ATB Cormark Capital Markets lowered 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 research report on Friday, March 6th. Canaccord Genuity Group lowered shares of Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 target price on the stock. in a research report on Thursday, May 7th. Desjardins raised 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 research report on Monday, March 9th. Finally, Scotiabank upgraded shares of Tourmaline Oil to a "strong-buy" rating in a research report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$71.00.
Check Out Our Latest Research Report 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.
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