Tourmaline Oil (TSE:TOU) Director Purchases C$991,045.60 in Stock

Key Points

• Christopher Lee, a director at Tourmaline Oil, purchased 17,000 shares of the company's stock at an average price of C$58.30, totaling approximately C$991,045.60.
• Tourmaline Oil has announced a quarterly dividend increase, raising it from $0.35 to $0.50 per share, which results in an annual yield of 3.4%.
• Recent analyst reports show a mixed outlook on the stock, with target prices ranging from C$73.00 to C$77.00 and a consensus rating of "Moderate Buy."

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) Director Christopher Lee bought 17,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were acquired at an average cost of C$58.30 per share, with a total value of C$991,045.60. Following the transaction, the director owned 17,000 shares in the company, valued at approximately C$991,045.60. This represents a ∞ increase in their position.

Tourmaline Oil Trading Up 1.0%

TOU stock traded up C$0.61 during midday trading on Friday, reaching C$60.06. 2,031,131 shares of the company's stock traded hands, compared to its average volume of 2,368,893. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. Tourmaline Oil Corp. has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.83. The business has a 50-day moving average price of C$59.48 and a two-hundred day moving average price of C$62.55. The company has a market capitalization of C$23.23 billion, a P/E ratio of 14.94, a PEG ratio of 1.72 and a beta of 0.40.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, September 15th. This is a positive change from Tourmaline Oil's previous quarterly dividend of $0.35. Tourmaline Oil's dividend payout ratio (DPR) is presently 42.29%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Securities lowered their price target on Tourmaline Oil from C$76.00 to C$73.00 and set a "buy" rating for the company in a report on Friday, August 1st. ATB Capital boosted their price objective on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Raymond James Financial cut shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from C$76.00 to C$74.00 in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. Finally, CIBC cut their price target on Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$74.50.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.