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

Key Points

• Insider buying: Mike Rose purchased 5,000 Tourmaline Oil shares at an average C$62.06, investing C$310,300. He now directly owns 8,162,678 shares valued at approximately C$506.6 million.
• Rose has made six additional 5,000-share purchases since July, indicating a sustained pattern of insider buying.
• Market and analyst view: Tourmaline shares fell 0.3% to C$62.78, while analysts maintain a “Moderate Buy” consensus and an average price target of C$70.60.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose bought 5,000 shares of the company's stock in a transaction dated Tuesday, October 6th. The stock was acquired at an average price of C$62.06 per share, for a total transaction of C$310,300.00. Following the acquisition, the insider directly owned 8,162,678 shares in the company, valued at C$506,575,796.68. This trade represents a 0.06% increase in their ownership of the stock.

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

• On Tuesday, September 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$60.28 per share, for a total transaction of C$301,400.00.
• On Friday, September 25th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought 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 bought 5,000 shares of Tourmaline Oil stock. The stock was 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 purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$61.87 per share, with a total value of C$309,350.00.
• On Wednesday, August 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$60.00 per share, with a total value of C$300,000.00.
• On Friday, July 31st, Mike Rose bought 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.

Tourmaline Oil Stock Down 0.3%

Shares of TOU traded down C$0.21 during mid-day trading on Tuesday, hitting C$62.78. 708,690 shares of the company's stock were exchanged, compared to its average volume of 2,653,043. Tourmaline Oil Corp. has a twelve month low of C$57.95 and a twelve month high of C$70.57. The firm has a fifty day moving average of C$61.53 and a two-hundred day moving average of C$62.81. The stock has a market cap of C$24.40 billion, a price-to-earnings ratio of 68.24, a P/E/G ratio of 1.72 and a beta of -0.27. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 8.24.

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 return on equity of 2.37% and a net margin of 6.50%. On average, sell-side analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD boosted their price target 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. Jefferies Financial Group raised their target price on Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. The Goldman Sachs Group lowered Tourmaline Oil from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, October 1st. Scotiabank upgraded Tourmaline Oil to a "strong-buy" rating in a research report on Friday, June 26th. Finally, Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the stock a "hold" rating in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Tourmaline Oil has a consensus rating of "Moderate Buy" and a consensus price target of C$70.60.

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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