Tourmaline Oil (TSE:TOU) Director Christopher Lee Buys 17,000 Shares

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 acquired 17,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were purchased at an average price of C$58.30 per share, with a total value of C$991,045.60. Following the acquisition, the director owned 17,000 shares of the company's stock, valued at approximately C$991,045.60. This trade represents a ∞ increase in their position.

Tourmaline Oil Trading Up 1.0%

TSE TOU traded up C$0.61 during trading on Friday, reaching C$60.06. 2,031,131 shares of the stock traded hands, compared to its average volume of 2,368,893. The firm has a market cap of C$23.23 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.72 and a beta of 0.40. The stock's 50-day moving average price is C$59.48 and its 200 day moving average price is C$62.52. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. Tourmaline Oil Corp. has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.83.

Tourmaline Oil Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. This is a boost from Tourmaline Oil's previous quarterly dividend of $0.35. The ex-dividend date is Monday, September 15th. Tourmaline Oil's dividend payout ratio is currently 42.29%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Securities reduced their price target on shares of 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. Royal Bank Of Canada cut their price objective on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. Raymond James Financial lowered shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from C$76.00 to C$74.00 in a research report on Thursday, July 31st. 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 research report on Thursday, July 31st. Finally, CIBC cut their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating on the stock in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.