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

Key Points

• Insider buying: Mike Rose purchased 5,000 Tourmaline Oil shares at C$61.84 each, spending C$309,200. He now owns 8,127,678 shares valued at approximately C$502.6 million, following multiple purchases since May.
• Recent performance: Tourmaline Oil shares fell 0.5% to C$61.99, while the company reported quarterly EPS of C$0.47 on C$1.50 billion in revenue. The company also maintains a C$2.00 annualized dividend, yielding about 3.2%.
• Analyst outlook: Analysts have a consensus “Moderate Buy” rating and an average price target of C$70.36, although several firms maintain “Hold” ratings and targets ranging from C$66 to C$74.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose acquired 5,000 shares of the business's stock in a transaction dated Friday, July 31st. The stock was purchased at an average cost of C$61.84 per share, with a total value of C$309,200.00. Following the transaction, the insider owned 8,127,678 shares of the company's stock, valued at approximately C$502,615,607.52. The trade was a 0.06% increase in their ownership of the stock.

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

• On Friday, June 26th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$59.84 per share, for a total transaction of C$149,600.00.
• On Wednesday, June 24th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.10 per share, with a total value of C$147,750.00.
• On Thursday, June 18th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$59.52 per share, with a total value of C$297,600.00.
• On Monday, June 15th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were acquired 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$63.96 per share, for a total transaction of C$319,800.00.
• On Friday, May 29th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$63.79 per share, with a total value of C$318,950.00.
• On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$63.70 per share, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$65.98 per share, for a total transaction of C$164,950.00.
• On Thursday, May 14th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$65.20 per share, with a total value of C$326,000.00.
• On Friday, May 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$64.60 per share, with a total value of C$323,000.00.

Tourmaline Oil Trading Down 0.5%

Shares of TOU stock traded down C$0.31 during trading hours on Friday, hitting C$61.99. 1,270,477 shares of the company were exchanged, compared to its average volume of 2,769,443. The firm has a market cap of C$24.07 billion, a PE ratio of 34.25, a PEG ratio of 1.72 and a beta of -0.27. Tourmaline Oil Corp. has a 1 year low of C$56.72 and a 1 year high of C$70.57. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The firm has a fifty day moving average of C$62.35 and a 200 day moving average of C$63.19.

Tourmaline Oil (TSE:TOU - Get Free Report) last released its earnings results 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 net margin of 12.79% and a return on equity of 4.40%. Analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, June 15th. Tourmaline Oil's dividend payout ratio (DPR) is 110.50%.

Analysts Set New Price Targets

Several equities research analysts have commented on TOU shares. TD upped their price target on Tourmaline Oil from C$65.00 to C$66.00 and gave the stock a "hold" rating in a research note on Wednesday, July 22nd. Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the company a "hold" rating in a research note on Friday, July 17th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 target price for the company. in a research report on Thursday, May 7th. Jefferies Financial Group raised their price target on shares of Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Finally, Scotiabank raised shares of Tourmaline Oil to a "strong-buy" rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.

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