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

Key Points

• Insider buying: Mike Rose purchased 5,000 Tourmaline Oil shares at an average price of C$61.15, investing C$305,750. He now owns 8.15 million shares valued at approximately C$498.5 million and has made four additional 5,000-share purchases since late July.
• Stock performance: Tourmaline shares traded at C$61.38, near their 50-day and 200-day moving averages, with a market capitalization of C$23.85 billion. The stock has ranged from C$57.95 to C$70.57 over the past year.
• Analyst outlook: Analysts collectively rate the stock “Moderate Buy,” with an average price target of C$70.36, despite mixed ratings ranging from Hold to Strong Buy.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose bought 5,000 shares of the business's stock in a transaction that occurred on Friday, September 25th. The shares were bought at an average cost of C$61.15 per share, for a total transaction of C$305,750.00. Following the transaction, the insider owned 8,152,678 shares of the company's stock, valued at C$498,536,259.70. The trade was a 0.06% increase in their ownership of the stock.

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

• On Friday, September 11th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased 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 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 purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$61.84 per share, with a total value of C$309,200.00.

Tourmaline Oil Stock Performance

Tourmaline Oil stock traded down C$0.04 during mid-day trading on Friday, reaching C$61.38. 2,077,065 shares of the company's stock were exchanged, compared to its average volume of 2,675,718. The business's fifty day simple moving average is C$61.88 and its 200 day simple moving average is C$63.01. 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 Corp. has a one year low of C$57.95 and a one year high of C$70.57. The firm has a market capitalization of C$23.85 billion, a PE ratio of 66.72, a P/E/G ratio of 1.72 and a beta of -0.26.

Tourmaline Oil (TSE:TOU - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 earnings per share (EPS) 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 expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the stock a "hold" rating in a research report on Friday, July 17th. Jefferies Financial Group increased their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Scotiabank upgraded shares of Tourmaline Oil to a "strong-buy" rating in a research note on Friday, June 26th. Finally, TD lifted their price target on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a "hold" rating in a report on Wednesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.