Tourmaline Oil (TSE:TOU) Insider Buys 5,000 Shares of Company Stock

Key Points

• Insider buying: Mike Rose purchased 5,000 Tourmaline Oil shares for approximately C$301,400, increasing his direct holdings to 8.16 million shares valued at about C$491.7 million. This was his sixth reported 5,000-share purchase since late July.
• Stock performance: Tourmaline shares fell C$1.10 to C$59.86, near the lower end of their 52-week range of C$57.95 to C$70.57. The company has a market capitalization of approximately C$23.26 billion.
• Analyst outlook: Analysts maintain a consensus “Moderate Buy” rating, with an average price target of C$70.36, implying potential upside from the reported trading price.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 5,000 shares of the firm's stock in a transaction dated Tuesday, September 29th. The shares were purchased at an average cost of C$60.28 per share, for a total transaction of C$301,400.00. Following the purchase, the insider directly owned 8,157,678 shares in the company, valued at approximately C$491,744,829.84. This represents a 0.06% increase in their ownership of the stock.

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

• On Friday, September 25th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$61.15 per share, with a total value of C$305,750.00.
• On Friday, September 11th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$61.45 per share, for a total transaction of C$307,250.00.
• On Friday, August 21st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost 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 stock was purchased at an average price of C$60.00 per share, with a total value of C$300,000.00.
• On Friday, July 31st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$61.84 per share, with a total value of C$309,200.00.

Tourmaline Oil Price Performance

Shares of Tourmaline Oil stock traded down C$1.10 on Tuesday, hitting C$59.86. The company's stock had a trading volume of 749,707 shares, compared to its average volume of 2,672,119. Tourmaline Oil Corp. has a 52-week low of C$57.95 and a 52-week high of C$70.57. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 8.24. The firm has a fifty day moving average price of C$61.85 and a 200-day moving average price of C$62.99. The company has a market capitalization of C$23.26 billion, a P/E ratio of 65.07, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26.

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

Analyst Upgrades and Downgrades

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

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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