Key Points
- Insider buying continued: Tourmaline Oil insider Mike Rose bought 5,000 shares at C$59.52 each for a total of C$297,600, adding to a string of recent purchases over the past few months.
- Stock and valuation snapshot: Tourmaline Oil opened at C$60.16 and was down 0.6%, with a 12-month range of C$56.72 to C$70.57 and a market cap of C$23.36 billion.
- Dividend and analyst sentiment: The company declared a quarterly dividend of C$0.50 per share, or C$2.00 annually, yielding 3.3%, while analysts currently rate the stock a Moderate Buy with a consensus target of C$71.00.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider James William Alexander Heard acquired 1,000 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was purchased at an average price of C$58.88 per share, for a total transaction of C$58,880.00. Following the transaction, the insider directly owned 67,476 shares of the company's stock, valued at approximately C$3,972,986.88. This trade represents a 1.50% increase in their position.
James William Alexander Heard also recently made the following trade(s):
- On Friday, April 17th, James William Alexander Heard acquired 1,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$59.08 per share, with a total value of C$59,080.00.
Tourmaline Oil Stock Performance
Tourmaline Oil stock opened at C$60.16 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. The firm has a market cap of C$23.36 billion, a P/E ratio of 33.24, a P/E/G ratio of 1.72 and a beta of -0.24. Tourmaline Oil Corp. has a 1-year low of C$56.72 and a 1-year high of C$70.57. The firm has a 50-day moving average of C$63.66 and a 200-day moving average of C$63.24.
Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. The company had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. Sell-side analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.
Tourmaline Oil Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, June 15th. Tourmaline Oil's dividend payout ratio is currently 110.50%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on TOU. Scotiabank upgraded shares of Tourmaline Oil to a "strong-buy" rating in a report on Wednesday, April 1st. Desjardins upped 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 report on Monday, March 9th. 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 note on Thursday, May 7th. Royal Bank Of Canada reduced their price target on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating on the stock in a research report on Friday, March 6th. Finally, BMO Capital Markets lowered shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$71.00.
Check Out Our Latest Stock 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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