Key Points
- Insider sale: Tourmaline Oil insider Earl Henry Mckinnon sold 4,700 shares on July 3 at an average price of C$60.35, totaling C$283,645. After the transaction, he still owned 132,280 shares, a 3.43% reduction in his stake.
- Dividend and earnings: The company recently paid a quarterly dividend of C$0.50 per share, equal to an annualized yield of 3.3%, though its payout ratio is high at 110.50%. Tourmaline also reported quarterly EPS of C$1.69 on revenue of C$1.78 billion.
- Analyst sentiment: Analysts remain generally constructive, with a consensus rating of Moderate Buy and an average price target of C$71.00. Recent moves included Scotiabank upgrading the stock to strong-buy and several firms adjusting targets in the low- to mid-C$70 range.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Earl Henry Mckinnon sold 4,700 shares of the business's stock in a transaction on Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total value of C$283,645.00. Following the sale, the insider directly owned 132,280 shares in the company, valued at C$7,983,098. This trade represents a 3.43% decrease in their ownership of the stock.
Tourmaline Oil Trading Up 0.2%
Shares of TSE TOU opened at C$59.83 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. Tourmaline Oil Corp. has a 12 month low of C$56.72 and a 12 month high of C$70.57. The company has a market cap of C$23.23 billion, a price-to-earnings ratio of 33.06, a P/E/G ratio of 1.72 and a beta of -0.27. The business has a fifty day simple moving average of C$63.52 and a 200-day simple moving average of C$62.94.
Tourmaline Oil (TSE:TOU - Get Free Report) last issued 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 return on equity of 4.40% and a net margin of 12.79%. Sell-side analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.
Tourmaline Oil Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Monday, June 15th. Tourmaline Oil's dividend payout ratio (DPR) is presently 110.50%.
Analysts Set New Price Targets
TOU has been the topic of a number of recent analyst reports. Scotiabank upgraded shares of Tourmaline Oil to a "strong-buy" rating in a report on Friday, June 26th. 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 note on Monday, March 9th. Canaccord Genuity Group cut shares of 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. ATB Cormark Capital Markets cut 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 note on Friday, March 6th. Finally, Royal Bank Of Canada reduced their target price on 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. Three investment 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$71.00.
View Our Latest Stock Report on Tourmaline Oil
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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