Insider Buying: Tourmaline Oil (TSE:TOU) Insider Purchases C$146,800.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction on Wednesday, January 14th. The stock was acquired at an average cost of C$58.72 per share, for a total transaction of C$146,800.00. Following the completion of the purchase, the insider owned 8,032,678 shares of the company’s stock, valued at approximately C$471,678,852.16. The trade was a 0.03% increase in their position.

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

• On Friday, November 7th, Mike Rose bought 10,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$59.83 per share, with a total value of C$598,300.00.

Tourmaline Oil Stock Down 0.1%

TSE:TOU opened at C$59.04 on Friday. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. Tourmaline Oil Corp. has a 12-month low of C$55.40 and a 12-month high of C$70.83. The stock’s fifty day simple moving average is C$61.54 and its 200-day simple moving average is C$60.79. The firm has a market capitalization of C$22.85 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.72 and a beta of -0.03.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, November 5th. The company reported C$0.49 EPS for the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%.The business had revenue of C$1.40 billion during the quarter. Equities research analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were 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 was Monday, December 15th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 52.86%.

Analyst Upgrades and Downgrades

Several brokerages have commented on TOU. Desjardins raised shares of Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 target price for the company in a research note on Monday, November 24th. Raymond James Financial lowered their price objective on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th. TD Securities downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$73.00 to C$68.00 in a research note on Tuesday, September 30th. CIBC decreased their target price on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday. Finally, Capital One Financial upgraded Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. Two 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’s stock. Based on data from MarketBeat.com, Tourmaline Oil presently has an average rating of “Buy” and an average target price of C$72.13.

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.