Key Points
- Insider buying: Mike Rose purchased 5,000 Tourmaline Oil shares at C$61.15 each, investing C$305,750. Following the transaction, he owned approximately 8.15 million shares valued at C$498.5 million.
- Stock performance and fundamentals: Tourmaline shares opened at C$61.38 and were down 0.1%, near their 50-day and 200-day moving averages. The company reported quarterly revenue of C$1.50 billion and EPS of C$0.47.
- Analyst outlook: Analysts maintain a “Moderate Buy” consensus rating, with a consensus price target of C$70.36, implying potential upside from the current share price.
Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction dated Friday, September 25th. The shares were purchased at an average cost of C$61.15 per share, with a total value of C$305,750.00. Following the acquisition, the insider owned 8,152,678 shares of the company's stock, valued at approximately C$498,536,259.70. This trade represents a 0.06% increase in their position.
Mike Rose also recently made the following trade(s):
- On Friday, September 11th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$61.45 per share, with a total value of C$307,250.00.
- On Friday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased 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 acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$60.00 per share, for a total transaction of C$300,000.00.
- On Friday, July 31st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$61.84 per share, for a total transaction of C$309,200.00.
Tourmaline Oil Trading Down 0.1%
Tourmaline Oil stock opened at C$61.38 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 8.24. The firm has a 50-day moving average price of C$61.88 and a two-hundred day moving average price of C$63.01. The firm has a market capitalization of C$23.85 billion, a price-to-earnings ratio of 66.72, a PEG ratio of 1.72 and a beta of -0.26. Tourmaline Oil Corp. has a 52-week low of C$57.95 and a 52-week 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 EPS for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. The company had revenue of C$1.50 billion for the quarter. Sell-side analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.
Analysts Set New Price Targets
TOU has been the topic of a number of research analyst reports. TD raised their price target on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. Jefferies Financial Group boosted their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Desjardins set a C$68.00 target price on Tourmaline Oil and gave the company a "hold" rating in a report on Friday, July 17th. Finally, Scotiabank upgraded shares of 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 given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$70.36.
Read Our Latest Stock Report 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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