Key Points
- Insider Mike Rose bought 2,500 shares of Tourmaline Oil on June 26 at an average price of C$59.84, spending C$149,600. After the purchase, he directly owned about 8.1 million shares valued at roughly C$485.6 million.
- Rose has been actively accumulating shares in recent weeks, with multiple purchases in June and May at prices ranging from about C$59.10 to C$65.98. The latest buy followed several earlier insider purchases of similar size.
- Tourmaline Oil is trading near its recent range, opening at C$60.16 versus a 52-week high of C$70.57, and it recently paid a quarterly dividend of C$0.50 per share. Analysts currently have a consensus Moderate Buy rating with an average price target of C$71.00.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 2,500 shares of the business's stock in a transaction dated Friday, June 26th. The shares were bought at an average price of C$59.84 per share, with a total value of C$149,600.00. Following the purchase, the insider directly owned 8,115,178 shares of the company's stock, valued at approximately C$485,612,251.52. The trade was a 0.03% increase in their ownership of the stock.
Mike Rose also recently made the following trade(s):
- On Wednesday, June 24th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.10 per share, for a total transaction of C$147,750.00.
- On Thursday, June 18th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost 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 purchased at an average cost 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 shares were purchased at an average price 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 stock was purchased at an average price 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 stock was purchased at an average cost 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 purchased 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 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 acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$64.60 per share, with a total value of C$323,000.00.
- On Friday, April 24th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$59.45 per share, for a total transaction of C$297,250.00.
Tourmaline Oil Price Performance
Shares of TOU 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 stock's 50 day moving average is C$63.57 and its two-hundred day moving average is C$63.08. Tourmaline Oil Corp. has a twelve month low of C$56.72 and a twelve month high of C$70.57. The firm has a market capitalization of C$23.36 billion, a PE ratio of 33.24, a P/E/G ratio of 1.72 and a beta of -0.24.
Tourmaline Oil (TSE:TOU - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. The business had revenue of C$1.78 billion during the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. Research analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.
Tourmaline Oil Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a $0.50 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 3.3%. Tourmaline Oil's dividend payout ratio is presently 110.50%.
Analysts Set New Price Targets
Several brokerages have commented on TOU. Raymond James Financial boosted their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Desjardins raised their price objective on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a "buy" rating in a research note on Monday, March 9th. ATB Cormark Capital Markets decreased their price objective 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. Royal Bank Of Canada dropped 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 report on Friday, March 6th. Finally, BMO Capital Markets downgraded shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and lifted their price target for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Three research 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. Based on data from MarketBeat, Tourmaline Oil has a consensus rating of "Moderate Buy" and an average price target of C$71.00.
Read Our Latest Report on TOU
Tourmaline Oil Company Profile
(
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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