Tourmaline Oil (TSE:TOU) Insider Mike Rose Buys 10,000 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 10,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average cost of C$59.83 per share, for a total transaction of C$598,300.00. Following the completion of the acquisition, the insider directly owned 8,197,742 shares of the company’s stock, valued at approximately C$490,470,903.86. This trade represents a 0.12% increase in their position.

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

• On Friday, October 10th, Mike Rose purchased 10,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$60.42 per share, with a total value of C$604,200.00.
• On Friday, September 19th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$61.19 per share, with a total value of C$305,928.00.

Tourmaline Oil Trading Up 0.3%

TSE:TOU traded up C$0.19 during trading hours on Friday, hitting C$60.14. The company had a trading volume of 715,112 shares, compared to its average volume of 2,361,685. Tourmaline Oil Corp. has a 1 year low of C$55.40 and a 1 year high of C$70.83. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The company has a 50-day moving average of C$60.57 and a 200 day moving average of C$61.61. The company has a market cap of C$23.26 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.72 and a beta of 0.29.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, September 15th. Tourmaline Oil’s dividend payout ratio (DPR) is 42.29%.

Analysts Set New Price Targets

A number of research analysts recently commented on TOU shares. TD Securities downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and dropped their target price for the company from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. CIBC decreased their target price on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research report on Wednesday, October 15th. Scotiabank decreased their price objective on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. The Goldman Sachs Group upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 13th. Finally, Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$74.10.

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.