Key Points
- Insider buying: Mike Rose purchased 5,000 Tourmaline Oil shares at C$61.45 each, investing C$307,250 and increasing his direct stake to 8.15 million shares. The purchase follows several other insider buys since June.
- Stock and financials: Tourmaline shares opened at C$61.37, down 1.6%, with a market capitalization of C$23.85 billion. The company reported quarterly revenue of C$1.50 billion and earnings of C$0.47 per share.
- Analyst outlook and dividend: Analysts rate the stock “Moderate Buy,” with an average price target of C$70.36 versus the reported trading price. Tourmaline also pays a C$2.00 annualized dividend, yielding about 3.3%.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The shares were bought at an average price of C$61.45 per share, with a total value of C$307,250.00. Following the acquisition, the insider directly owned 8,147,678 shares of the company's stock, valued at C$500,674,813.10. The trade was a 0.06% increase in their position.
Mike Rose also recently made the following trade(s):
- On Friday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.87 per share, for a total transaction of C$309,350.00.
- On Wednesday, August 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$60.00 per share, for a total transaction of C$300,000.00.
- On Friday, July 31st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price 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 cost of C$59.84 per share, with a total value of C$149,600.00.
- On Wednesday, June 24th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were 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 purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price 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 stock was bought at an average cost of C$61.04 per share, for a total transaction of C$152,600.00.
Tourmaline Oil Trading Down 1.6%
TSE:TOU opened at C$61.37 on Friday. Tourmaline Oil Corp. has a 12 month low of C$57.95 and a 12 month high of C$70.57. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24. The firm's 50 day moving average is C$61.86 and its 200 day moving average is C$63.18. The stock has a market capitalization of C$23.85 billion, a PE ratio of 66.71, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26.
Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings data 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 expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.
Tourmaline Oil Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given 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 of this dividend was Monday, June 15th. Tourmaline Oil's dividend payout ratio is currently 217.39%.
Analysts Set New Price Targets
Several brokerages recently weighed in on TOU. TD lifted their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Scotiabank upgraded Tourmaline Oil to a "strong-buy" rating in a research note on Friday, June 26th. Jefferies Financial Group upped their price objective on shares of Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Finally, Desjardins set a C$68.00 target price on shares of Tourmaline Oil and gave the stock a "hold" rating in a research report on Friday, July 17th. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Tourmaline Oil currently has an average rating of "Moderate Buy" and an average target price of C$70.36.
Get Our Latest Stock Analysis 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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