Tourmaline Oil (TSE:TOU) Insider Mike Rose Buys 5,000 Shares

Key Points

• Insider buying continued: Tourmaline Oil insider Mike Rose bought 5,000 shares on June 18 at an average price of C$59.52, bringing his total holdings to more than 8.1 million shares. He has also made several other purchases over the past few weeks.
• Stock and financial snapshot: TOU shares fell to C$60.02 in Thursday trading, near the stock’s 52-week low of C$56.72 and below its 50-day and 200-day moving averages. The company reported C$1.69 EPS and C$1.78 billion in quarterly revenue in its latest earnings release.
• Dividend and analyst sentiment: Tourmaline Oil declared a quarterly dividend of C$0.50 per share, implying a 3.3% annual yield. Analysts currently rate the stock a Moderate Buy on average, with a consensus price target of C$71.00.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 5,000 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average cost of C$59.52 per share, for a total transaction of C$297,600.00. Following the completion of the transaction, the insider owned 8,107,678 shares in the company, valued at approximately C$482,568,994.56. This represents a 0.06% increase in their position.

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

• On Monday, June 15th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.04 per share, with a total value of C$152,600.00.
• On Friday, June 5th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired 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 shares were acquired 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 shares were 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 price 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, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired 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 acquired 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$59.45 per share, for a total transaction of C$297,250.00.
• On Wednesday, March 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$68.50 per share, for a total transaction of C$171,250.00.

Tourmaline Oil Stock Performance

TOU stock traded down C$0.48 during midday trading on Thursday, reaching C$60.02. The company had a trading volume of 3,033,473 shares, compared to its average volume of 2,871,238. 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 stock has a 50 day moving average price of C$63.75 and a 200 day moving average price of C$63.27. Tourmaline Oil Corp. has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57. The firm has a market capitalization of C$23.31 billion, a PE ratio of 33.16, a P/E/G ratio of 1.72 and a beta of -0.24.

Tourmaline Oil (TSE:TOU - Get Free Report) last announced 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 business had revenue of C$1.78 billion for the quarter. Analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Tourmaline Oil's payout ratio is 110.50%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TOU shares. Desjardins lifted their price objective on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a "buy" rating in a research report on Monday, March 9th. Canaccord Genuity Group cut 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. Scotiabank upgraded shares of Tourmaline Oil to a "strong-buy" rating in a research note on Wednesday, April 1st. Raymond James Financial lifted their price target on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Finally, ATB Cormark Capital Markets reduced their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating for the company in a research report on Friday, March 6th. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Tourmaline Oil has an average rating of "Moderate Buy" and a consensus price target of C$71.00.

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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