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

Key Points

• Insider buying: Mike Rose purchased 5,000 Tourmaline Oil shares at C$60 each, investing C$300,000. His ownership increased to 8,132,678 shares valued at approximately C$488 million.
• Recent stock performance: Tourmaline shares fell 2.4% to C$59.39, below their 50-day and 200-day moving averages. The stock has traded between C$56.72 and C$70.57 over the past year.
• Analyst outlook and dividend: Analysts maintain a consensus “Moderate Buy” rating with a C$70.36 price target. The company pays a C$2.00 annualized dividend, yielding about 3.4%.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose bought 5,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were bought at an average price of C$60.00 per share, for a total transaction of C$300,000.00. Following the completion of the acquisition, the insider owned 8,132,678 shares in the company, valued at approximately C$487,960,680. The trade was a 0.06% increase in their ownership of the stock.

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

• On Friday, July 31st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$61.84 per share, with a total value of C$309,200.00.
• On Friday, June 26th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$59.84 per share, with a total value of C$149,600.00.
• On Wednesday, June 24th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$59.10 per share, for a total transaction of C$147,750.00.
• On Thursday, June 18th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought 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 acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$61.04 per share, for a total transaction of C$152,600.00.
• On Friday, June 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$63.96 per share, with a total value of C$319,800.00.
• On Friday, May 29th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$63.79 per share, with a total value of C$318,950.00.
• On Thursday, May 28th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$63.70 per share, with a total value of C$159,250.00.
• On Monday, May 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$65.98 per share, with a total value of C$164,950.00.
• On Thursday, May 14th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$65.20 per share, for a total transaction of C$326,000.00.

Tourmaline Oil Trading Down 2.4%

Shares of TOU stock traded down C$1.48 on Wednesday, hitting C$59.39. 924,680 shares of the stock traded hands, compared to its average volume of 2,763,519. The firm's 50-day moving average price is C$62.10 and its two-hundred day moving average price is C$63.25. The company has a debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72. The stock has a market capitalization of C$23.08 billion, a PE ratio of 64.55, a PEG ratio of 1.72 and a beta of -0.29. Tourmaline Oil Corp. has a twelve month low of C$56.72 and a twelve month high of C$70.57.

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. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. The firm had revenue of C$1.50 billion during the quarter. As a group, analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Tourmaline Oil's dividend payout ratio is 217.39%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TOU. Scotiabank raised shares of Tourmaline Oil to a "strong-buy" rating in a research report on Friday, June 26th. TD increased 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. Jefferies Financial Group increased their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Desjardins set a C$68.00 target price on Tourmaline Oil and gave the stock a "hold" rating in a research note on Friday, July 17th. Finally, BMO Capital Markets downgraded Tourmaline Oil from an "outperform" rating to a "market perform" rating and lifted their target price for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Tourmaline Oil has a consensus rating of "Moderate Buy" and a consensus price target 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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source