Key Points
- Insider buying continued: Tourmaline Oil insider Mike Rose bought 2,500 shares on June 24 at C$59.10, bringing his direct holdings to 8.11 million shares. This is part of a series of recent purchases over the past several weeks.
- Dividend details: The company announced a quarterly dividend of C$0.50 per share, payable June 30, for an annualized yield of about 3.3%. However, the payout ratio is high at 110.5%.
- Mixed analyst sentiment: Wall Street’s consensus rating on Tourmaline Oil is currently “Moderate Buy,” with an average target price of C$71.00. Recent analyst actions have included both target price adjustments and some downgrades.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Wednesday, June 24th. The shares were acquired at an average price of C$59.10 per share, with a total value of C$147,750.00. Following the acquisition, the insider directly owned 8,112,678 shares of the company's stock, valued at C$479,459,269.80. This trade represents a 0.03% increase in their position.
Mike Rose also recently made the following trade(s):
- On Thursday, June 18th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$59.52 per share, for a total transaction of C$297,600.00.
- On Monday, June 15th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$61.04 per share, for a total transaction of C$152,600.00.
- On Friday, June 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$63.96 per share, with a total value of C$319,800.00.
- On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost 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 acquired 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 shares were acquired 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 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 acquired 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$64.60 per share, for a total transaction of C$323,000.00.
- On Friday, April 24th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$59.45 per share, with a total value of C$297,250.00.
Tourmaline Oil Stock Performance
Shares of TOU stock opened at C$59.86 on Thursday. The company has a market capitalization of C$23.24 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 1.72 and a beta of -0.24. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The company has a 50-day simple moving average of C$63.59 and a 200 day simple moving average of C$63.14. Tourmaline Oil Corp. has a 52 week low of C$56.72 and a 52 week high of C$70.57.
Tourmaline Oil (TSE:TOU - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. The firm 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%. On average, sell-side analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.
Tourmaline Oil Announces Dividend
The company 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 $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Tourmaline Oil's dividend payout ratio is presently 110.50%.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the company. Desjardins lifted their price target on Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a "buy" rating in a report on Monday, March 9th. ATB Cormark Capital Markets decreased their price objective on 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. Canaccord Genuity Group cut Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 price objective on the stock. in a research report on Thursday, May 7th. BMO Capital Markets downgraded Tourmaline Oil from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Finally, Royal Bank Of Canada reduced their target price 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. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$71.00.
Get Our Latest Stock 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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