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

Key Points

• Insider purchase: Mike Rose bought 5,000 shares on April 24 at C$59.45 (C$297,250), raising his stake to 1,500,000 shares—a 0.33% increase in his position.
• Tourmaline shares traded down about 1.5% to C$59.54 with a market cap of C$23.05 billion and a consensus analyst rating of Buy with an average target of C$71.25.
• The company paid a quarterly dividend of $0.50 per share (annualized $2.00) for a 3.4% yield, though the dividend payout ratio is very high at 294.12%.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 5,000 shares of the firm's stock in a transaction dated Friday, April 24th. The shares were bought at an average price of C$59.45 per share, with a total value of C$297,250.00. Following the purchase, the insider owned 1,500,000 shares in the company, valued at C$89,175,000. This represents a 0.33% increase in their position.

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

• On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$68.50 per share, with a total value of C$171,250.00.
• On Monday, February 2nd, Mike Rose purchased 10,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$62.21 per share, with a total value of C$622,100.00.

Tourmaline Oil Stock Down 1.5%

Shares of TOU traded down C$0.91 during trading hours on Friday, hitting C$59.54. 1,033,308 shares of the company were exchanged, compared to its average volume of 2,775,109. The company has a market cap of C$23.05 billion, a PE ratio of 87.56, a PEG ratio of 1.72 and a beta of -0.10. The firm's 50 day moving average is C$63.97 and its 200-day moving average is C$62.32. Tourmaline Oil Corp. has a 52 week low of C$56.72 and a 52 week high of C$70.57. The company has a debt-to-equity ratio of 12.25, a quick ratio of 0.47 and a current ratio of 0.83.

Tourmaline Oil (TSE:TOU - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%.The company had revenue of C$1.66 billion for the quarter. On average, equities research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date was Monday, March 16th. This represents a $2.00 annualized dividend and a yield of 3.4%. Tourmaline Oil's dividend payout ratio is presently 294.12%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TOU. Raymond James Financial increased their target price on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. ATB Cormark Capital Markets decreased their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating for the company in a research note on Friday, March 6th. Royal Bank Of Canada decreased their target price on Tourmaline Oil from C$76.00 to C$72.00 and set an "outperform" rating for the company in a research note on Friday, March 6th. Jefferies Financial Group decreased their target price on Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th. Finally, Canadian Imperial Bank of Commerce decreased their target price on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Tourmaline Oil currently has a consensus rating of "Buy" and an average target price of C$71.25.

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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