Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys 5,000 Shares

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Wednesday, August 5th. The stock was bought at an average price of C$60.00 per share, with a total value of C$300,000.00. Following the purchase, the insider directly owned 8,132,678 shares of the company's stock, valued at approximately C$487,960,680. This trade represents a 0.06% increase in their ownership of the stock.

Mike Rose also recently made the following trade(s):

• On Friday, July 31st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$61.84 per share, for a total transaction of C$309,200.00.
• On Friday, June 26th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$59.84 per share, for a total transaction of C$149,600.00.
• On Wednesday, June 24th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$59.10 per share, with a total value of C$147,750.00.
• On Thursday, June 18th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost 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 shares were purchased 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 purchased 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased 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 purchased at an average cost of C$65.20 per share, with a total value of C$326,000.00.

Tourmaline Oil Stock Performance

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Shares of TOU stock opened at C$59.14 on Thursday. The stock has a fifty day moving average price of C$62.00 and a 200 day moving average price of C$63.25. The company has a debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72. The stock has a market cap of C$22.98 billion, a PE ratio of 64.28, a P/E/G ratio of 1.72 and a beta of -0.29. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57.

Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 earnings per share for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%.The business had revenue of C$1.50 billion during the quarter. Sell-side analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, June 15th. Tourmaline Oil's dividend payout ratio is presently 217.39%.

Analyst Ratings Changes

A number of equities analysts have issued reports on TOU shares. Canaccord Genuity Group cut shares of Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 target price for the company. in a research report on Thursday, May 7th. TD increased their price target on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a "hold" rating in a research report on Wednesday, July 22nd. BMO Capital Markets lowered shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and increased their price target for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the stock a "hold" rating in a research note on Friday, July 17th. Finally, Scotiabank upgraded Tourmaline Oil to a "strong-buy" rating in a research report on Friday, June 26th. Three analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Tourmaline Oil has a consensus rating of "Moderate Buy" and an average target price of C$70.36.

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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