Insider Buying: Tourmaline Oil (TSE:TOU) Insider Purchases 2,500 Shares of Stock

Key Points

• Insider Mike Rose purchased 2,500 shares on March 25 at C$68.50 (C$171,250), bringing his holdings to 8,060,178 shares (a 0.03% increase); he also bought 10,000 shares on Feb 2 and 2,500 on Jan 14.
• The company declared a quarterly dividend of C$0.50 per share (annualized C$2.00, ~2.9% yield) payable March 31, but the dividend payout ratio is very high at ~294% and last quarter EPS was a loss of C($1.72).
• Tourmaline has a market cap of C$26.38B with a P/E of ~100.2 and a 52-week range of C$55.40–C$70.73, and analysts carry an overall "Buy" consensus with a consensus price target of C$71.22.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 2,500 shares of the company's stock in a transaction on Wednesday, March 25th. The shares were purchased at an average price of C$68.50 per share, for a total transaction of C$171,250.00. Following the purchase, the insider owned 8,060,178 shares in the company, valued at approximately C$552,122,193. The trade was a 0.03% increase in their position.

Mike Rose also recently made the following trade(s):

• On Monday, February 2nd, Mike Rose acquired 10,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$62.21 per share, with a total value of C$622,100.00.
• On Wednesday, January 14th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$58.72 per share, with a total value of C$146,800.00.

Tourmaline Oil Stock Performance

TSE TOU traded down C$1.18 during trading hours on Wednesday, reaching C$68.13. The stock had a trading volume of 815,719 shares, compared to its average volume of 2,962,769. Tourmaline Oil Corp. has a 52-week low of C$55.40 and a 52-week high of C$70.73. The stock has a fifty day moving average of C$63.32 and a 200 day moving average of C$62.01. The company has a debt-to-equity ratio of 12.25, a quick ratio of 0.47 and a current ratio of 0.83. The stock has a market cap of C$26.38 billion, a P/E ratio of 100.19, a price-to-earnings-growth ratio of 1.72 and a beta of 0.00.

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

Tourmaline Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.9%. Tourmaline Oil's dividend payout ratio (DPR) is presently 294.12%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James Financial upped their target price on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. ATB Cormark Capital Markets reduced 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. Canadian Imperial Bank of Commerce decreased their price target on Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Jefferies Financial Group lowered their price objective on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Finally, Scotiabank dropped their price objective on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of C$71.22.

Tourmaline Oil Company Profile

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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