Tourmaline Oil (TSE:TOU) Insider Buys C$149,600.00 in Stock

Key Points

• Insider buying continued: Tourmaline Oil insider Mike Rose bought 2,500 shares on June 26 for C$149,600, adding to a series of recent purchases over the prior weeks. His direct holdings now total more than 8.1 million shares.
• Stock and financial snapshot: TOU traded around C$60.15, below its 50-day and 200-day moving averages, with a market cap of C$23.36 billion. The company recently reported C$1.69 EPS on C$1.78 billion in revenue.
• Dividend and analyst outlook: Tourmaline Oil declared a quarterly dividend of C$0.50 per share, or C$2.00 annually, for a 3.3% yield. Analysts currently rate the stock a Moderate Buy with an average price target of C$71.00.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose acquired 2,500 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average price of C$59.84 per share, with a total value of C$149,600.00. Following the acquisition, the insider directly owned 8,115,178 shares of the company's stock, valued at C$485,612,251.52. The trade was a 0.03% increase in their position.

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

• On Wednesday, June 24th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$59.10 per share, for a total transaction of C$147,750.00.
• On Thursday, June 18th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost 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 bought at an average price of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were 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 purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$63.79 per share, for a total transaction of C$318,950.00.
• On Thursday, May 28th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$65.98 per share, for a total transaction of C$164,950.00.
• On Thursday, May 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost 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 purchased at an average cost of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$59.45 per share, with a total value of C$297,250.00.

Tourmaline Oil Stock Performance

Shares of TOU traded up C$0.13 during mid-day trading on Friday, hitting C$60.15. The stock had a trading volume of 570,520 shares, compared to its average volume of 2,902,031. The firm has a market cap of C$23.36 billion, a P/E ratio of 33.23, a PEG ratio of 1.72 and a beta of -0.24. The business has a fifty day moving average price of C$63.58 and a 200-day moving average price of C$63.10. The company has a debt-to-equity ratio of 7.14, a current ratio of 0.88 and a quick ratio of 0.47. Tourmaline Oil Corp. has a 52 week low of C$56.72 and a 52 week high of C$70.57.

Tourmaline Oil (TSE:TOU - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The company had revenue of C$1.78 billion during the quarter. On average, equities research analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, June 15th. Tourmaline Oil's dividend payout ratio (DPR) is currently 110.50%.

Analysts Set New Price Targets

TOU has been the subject of several analyst reports. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a "buy" rating to a "hold" rating and set a C$70.00 price objective for the company. in a report on Thursday, May 7th. Royal Bank Of Canada decreased their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating on the stock in a research note on Friday, March 6th. BMO Capital Markets cut Tourmaline Oil from an "outperform" rating to a "market perform" rating and increased their price objective for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Scotiabank raised Tourmaline Oil to a "strong-buy" rating in a report on Wednesday, April 1st. Finally, ATB Cormark Capital Markets decreased their price target on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating on the stock in a research report on Friday, March 6th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Tourmaline Oil currently has a consensus rating of "Moderate Buy" and an average price target of C$71.00.

About Tourmaline Oil

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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