Tourmaline Oil (TSE:TOU) Insider Purchases 2,500 Shares

Key Points

• Insider buying continued: Tourmaline Oil insider Mike Rose bought 2,500 shares at C$59.10, adding to a string of recent purchases over the past several weeks. His total direct ownership now stands at 8,112,678 shares.
• Shares traded lower: TOU stock fell 1.7% to C$59.52, moving below both its 50-day and 200-day averages. Trading volume was also below its normal level.
• Dividend and analyst outlook: The company declared a quarterly dividend of C$0.50 per share, implying a 3.4% yield, while analysts currently rate the stock a Moderate Buy with a consensus target of C$71.00.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose purchased 2,500 shares of the business's stock in a transaction dated Wednesday, June 24th. The shares were purchased at an average cost of C$59.10 per share, for a total transaction of C$147,750.00. Following the completion of the purchase, the insider directly owned 8,112,678 shares of the company's stock, valued at approximately C$479,459,269.80. This represents a 0.03% increase in their position.

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

• On Thursday, June 18th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased 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 acquired 5,000 shares of Tourmaline Oil stock. The stock was 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, for a total transaction 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 price of C$63.70 per share, for a total transaction of C$159,250.00.
• On Monday, May 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were 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 bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$65.20 per share, for a total transaction of C$326,000.00.
• On Friday, May 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average price of C$64.60 per share, with a total value of C$323,000.00.
• On Friday, April 24th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$59.45 per share, with a total value of C$297,250.00.

Tourmaline Oil Trading Down 1.7%

Shares of TOU stock traded down C$1.02 during trading hours on Wednesday, hitting C$59.52. 1,135,997 shares of the company's stock traded hands, compared to its average volume of 2,912,058. The stock has a market cap of C$23.11 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 1.72 and a beta of -0.24. The stock's 50 day simple moving average is C$63.63 and its 200 day simple moving average is C$63.17. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. Tourmaline Oil Corp. has a 12 month low of C$56.72 and a 12 month high of C$70.57.

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

Tourmaline Oil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, June 15th. Tourmaline Oil's payout ratio is 110.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets downgraded Tourmaline Oil from an "outperform" rating to a "market perform" rating and raised their price objective for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Raymond James Financial upped their target price on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Scotiabank raised shares of Tourmaline Oil to a "strong-buy" rating in a research report on Wednesday, April 1st. ATB Cormark Capital Markets lowered their price target on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an "outperform" rating for the company in a report on Friday, March 6th. Finally, Desjardins boosted their price target on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a "buy" rating in a research report on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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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