Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys C$311,050.00 in Stock

Key Points

• Insider Mike Rose bought 5,000 Tourmaline Oil shares for C$311,050 at C$62.21 each, increasing his holdings to 8,167,678 shares, valued at about C$508.1 million.
• Rose has made several other 5,000-share purchases since August. Tourmaline shares fell 1.1% on Monday to C$62.33.
• Analysts’ consensus rating is Hold, with an average target price of C$70.80; the company reported quarterly revenue of C$1.47 billion and EPS of C$1.64.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose bought 5,000 shares of the firm's stock in a transaction that occurred on Monday, November 9th. The shares were purchased at an average cost of C$62.21 per share, for a total transaction of C$311,050.00. Following the purchase, the insider owned 8,167,678 shares in the company, valued at C$508,111,248.38. This represents a 0.06% increase in their position.

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

• On Tuesday, October 6th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$62.06 per share, with a total value of C$310,300.00.
• On Tuesday, September 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$60.28 per share, with a total value of C$301,400.00.
• On Friday, September 25th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$61.15 per share, for a total transaction of C$305,750.00.
• On Friday, September 11th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$61.45 per share, for a total transaction of C$307,250.00.
• On Friday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.87 per share, with a total value of C$309,350.00.

Tourmaline Oil Stock Down 1.1%

Shares of TOU stock traded down C$0.70 during trading on Monday, reaching C$62.33. The company's stock had a trading volume of 1,275,447 shares, compared to its average volume of 2,603,450. The company has a debt-to-equity ratio of 8.95, a current ratio of 0.86 and a quick ratio of 0.47. The company has a market capitalization of C$24.16 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 1.72 and a beta of -0.09. The stock's 50-day moving average price is C$63.53 and its 200 day moving average price is C$63.20. Tourmaline Oil Corp. has a 1-year low of C$57.95 and a 1-year high of C$70.57.

Tourmaline Oil (TSE:TOU - Get Free Report) last released its earnings results on Wednesday, November 4th. The company reported C$1.64 earnings per share (EPS) for the quarter. Tourmaline Oil had a net margin of 13.86% and a return on equity of 5.19%. The company had revenue of C$1.47 billion for the quarter. On average, research analysts anticipate that Tourmaline Oil Corp. will post 5.68 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Jefferies Financial Group boosted their target price on Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the company a "hold" rating in a research note on Friday, July 17th. TD boosted their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a "hold" rating in a research report on Wednesday, July 22nd. ATB Cormark Capital Markets upped their target price on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the stock an "outperform" rating in a research note on Thursday, October 22nd. Finally, The Goldman Sachs Group cut shares of Tourmaline Oil from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of C$70.80.

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 two 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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