Tourmaline Oil (TSE:TOU) Insider Acquires C$604,200.00 in Stock

Key Points

• Insider Activity: Tourmaline Oil insider Mike Rose purchased 10,000 shares at C$60.42 each, totaling C$604,200, increasing his total ownership to 8,187,742 shares.
• Dividend Announcement: The company recently increased its quarterly dividend to $0.50 per share, yielding 3.3% annually, up from the previous $0.35 per share.
• Analysts Ratings: Currently, three analysts have a "Buy" rating and three have a "Hold" rating on Tourmaline Oil, with an average price target of C$74.00.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 10,000 shares of the company's stock in a transaction on Friday, October 10th. The stock was bought at an average cost of C$60.42 per share, for a total transaction of C$604,200.00. Following the acquisition, the insider directly owned 8,187,742 shares of the company's stock, valued at C$494,703,371.64. This represents a 0.12% increase in their position.

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

• On Friday, September 19th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.19 per share, for a total transaction of C$305,928.00.
• On Tuesday, August 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$58.36 per share, for a total transaction of C$291,793.00.

Tourmaline Oil Price Performance

Shares of TSE TOU traded down C$1.18 during trading on Friday, hitting C$59.96. The company had a trading volume of 837,057 shares, compared to its average volume of 2,401,642. Tourmaline Oil Corp. has a 52 week low of C$55.40 and a 52 week high of C$70.83. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The company has a market cap of C$23.20 billion, a P/E ratio of 14.92, a PEG ratio of 1.72 and a beta of 0.35. The business's 50-day moving average is C$59.37 and its 200 day moving average is C$62.01.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Tourmaline Oil's previous quarterly dividend of $0.35. Tourmaline Oil's dividend payout ratio (DPR) is presently 42.29%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TOU. CIBC cut their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. TD Securities lowered shares of Tourmaline Oil from a "buy" rating to a "hold" rating and cut their price objective for the company from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. Raymond James Financial lowered shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and cut their price objective for the company from C$76.00 to C$74.00 in a research report on Thursday, July 31st. ATB Capital upped their target price on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada lowered their target price on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$74.00.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.

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