Mike Rose Buys 5,000 Shares of Tourmaline Oil (TSE:TOU) Stock

Key Points

• Insider buying: Mike Rose purchased 5,000 Tourmaline Oil shares at C$61.45 each, investing C$307,250 and increasing his holdings to 8.15 million shares. The purchase follows several other acquisitions since June.
• Stock performance: Tourmaline shares fell 2.0% to C$61.13, near the stock’s 50-day moving average and below its 12-month high of C$70.57. The company has a C$23.76 billion market capitalization.
• Analyst outlook and dividend: Analysts maintain a “Moderate Buy” consensus with an average target price of C$70.36, while Tourmaline offers a C$2.00 annualized dividend yielding about 3.3%.

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 Friday, September 11th. The shares were purchased at an average cost of C$61.45 per share, for a total transaction of C$307,250.00. Following the purchase, the insider owned 8,147,678 shares in the company, valued at C$500,674,813.10. This represents a 0.06% increase in their position.

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

• On Friday, August 21st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$61.87 per share, for a total transaction of C$309,350.00.
• On Wednesday, August 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$60.00 per share, for a total transaction of C$300,000.00.
• On Friday, July 31st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.84 per share, with a total value of C$309,200.00.
• On Friday, June 26th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$59.84 per share, with a total value of C$149,600.00.
• On Wednesday, June 24th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$59.10 per share, for a total transaction of C$147,750.00.
• On Thursday, June 18th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$59.52 per share, for a total transaction of C$297,600.00.
• On Monday, June 15th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$61.04 per share, with a total value of C$152,600.00.

Tourmaline Oil Stock Down 2.0%

TSE:TOU traded down C$1.22 during midday trading on Friday, reaching C$61.13. The company had a trading volume of 3,072,160 shares, compared to its average volume of 2,639,786. Tourmaline Oil Corp. has a 12-month low of C$57.95 and a 12-month high of C$70.57. The firm has a market capitalization of C$23.76 billion, a price-to-earnings ratio of 66.45, a PEG ratio of 1.72 and a beta of -0.26. The company has a current ratio of 0.72, a quick ratio of 0.47 and a debt-to-equity ratio of 8.24. The stock's fifty day simple moving average is C$61.83 and its 200-day simple moving average is C$63.19.

Tourmaline Oil (TSE:TOU - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 earnings per share (EPS) for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%.The company had revenue of C$1.50 billion for the quarter. On average, sell-side analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given 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 of this dividend was Monday, June 15th. Tourmaline Oil's payout ratio is 217.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TOU. TD upped their target price on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. Scotiabank raised shares of Tourmaline Oil to a "strong-buy" rating in a research note on Friday, June 26th. Desjardins set a C$68.00 target price on shares of Tourmaline Oil and gave the stock a "hold" rating in a research report on Friday, July 17th. Finally, Jefferies Financial Group upped their target price on Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$70.36.

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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