Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys 1,000 Shares of Stock

Key Points

• Insider purchase: Director James William Alexander Heard bought 1,000 Tourmaline shares on April 17 at C$59.08 each, raising his holding to 66,476 shares (a 1.53% increase) worth about C$3.93M.
• Dividend & payout: Tourmaline pays a C$0.50 quarterly dividend (C$2.00 annual, a 3.4% yield) but has a very high payout ratio of 294.12%, suggesting dividends exceed current earnings.
• Market and analyst view: Shares fell about 2.8% to C$59.51, the stock trades at a P/E of ~87.5 with a C$23.0B market cap, and analysts carry an average "Buy" rating with a consensus target of C$71.25.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider James William Alexander Heard purchased 1,000 shares of Tourmaline Oil stock in a transaction on Friday, April 17th. The stock was bought at an average price of C$59.08 per share, for a total transaction of C$59,080.00. Following the transaction, the insider directly owned 66,476 shares in the company, valued at approximately C$3,927,402.08. The trade was a 1.53% increase in their position.

Tourmaline Oil Trading Down 2.8%

Shares of Tourmaline Oil stock traded down C$1.71 on Friday, hitting C$59.51. 2,215,090 shares of the company's stock traded hands, compared to its average volume of 2,835,556. Tourmaline Oil Corp. has a one year low of C$56.72 and a one year high of C$70.57. The company has a debt-to-equity ratio of 12.25, a current ratio of 0.83 and a quick ratio of 0.47. The company has a fifty day moving average of C$64.15 and a two-hundred day moving average of C$62.36. The company has a market capitalization of C$23.04 billion, a price-to-earnings ratio of 87.51, a price-to-earnings-growth ratio of 1.72 and a beta of -0.10.

Tourmaline Oil (TSE:TOU - Get Free Report) last announced its earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. The business had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. As a group, sell-side analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Tourmaline Oil's dividend payout ratio is 294.12%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TOU. Royal Bank Of Canada decreased their price target on Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating for the company in a research report on Friday, March 6th. Raymond James Financial increased their price target on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. ATB Cormark Capital Markets decreased their price target on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating for the company in a research report on Friday, March 6th. Jefferies Financial Group decreased their price target on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Finally, Canadian Imperial Bank of Commerce decreased their price target on Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of C$71.25.

About Tourmaline Oil

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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