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

Key Points

• Insider Mike Rose purchased C$305,928 worth of Tourmaline Oil stock recently, increasing his holdings to over 8 million shares.
• The company announced a dividend increase to $0.50 per share, with a new annualized yield of 3.3%, boosted from the previous $0.35.
• Tourmaline Oil's stock is facing fluctuating analyst target prices, with updates ranging from C$73.00 to C$78.00 as different brokerages offer varying ratings.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) insider Mike Rose bought 5,000 shares of the stock in a transaction that occurred on Friday, September 19th. The shares were purchased at an average price of C$61.19 per share, with a total value of C$305,928.00. Following the completion of the acquisition, the insider directly owned 8,162,742 shares in the company, valued at C$499,442,266.92. This trade represents a 0.06% increase in their ownership of the stock.

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

• On Tuesday, August 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$58.36 per share, with a total value of C$291,793.00.
• On Monday, July 7th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$62.92 per share, with a total value of C$314,601.00.
• On Thursday, July 3rd, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$63.79 per share, with a total value of C$318,960.00.
• On Wednesday, June 25th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$64.68 per share, with a total value of C$323,379.00.

Tourmaline Oil Stock Up 1.5%

Shares of TOU traded up C$0.92 during midday trading on Monday, hitting C$61.71. The company had a trading volume of 1,300,481 shares, compared to its average volume of 2,457,628. The company's 50-day simple moving average is C$59.28 and its 200-day simple moving average is C$62.35. 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 firm has a market capitalization of C$23.87 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.72 and a beta of 0.40. Tourmaline Oil Corp. has a 1 year low of C$55.40 and a 1 year high of C$70.83.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Monday, September 15th. This is a boost from Tourmaline Oil's previous quarterly dividend of $0.35. Tourmaline Oil's dividend payout ratio (DPR) is 42.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TOU shares. CIBC decreased their price objective on Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating for the company in a research note on Thursday, July 31st. Raymond James Financial lowered Tourmaline Oil from an "outperform" rating to a "market perform" rating and cut their target price for the stock from C$76.00 to C$74.00 in a research report on Thursday, July 31st. ATB Capital raised their target price on Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Royal Bank Of Canada cut their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. Finally, TD Securities cut their target price on Tourmaline Oil from C$76.00 to C$73.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Tourmaline Oil currently has a consensus rating of "Moderate Buy" and a consensus price target of C$74.50.

Tourmaline Oil Company Profile

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.