Tourmaline Oil (TSE:TOU) Insider James William Alexander Heard Acquires 1,000 Shares

Tourmaline Oil Corp. (TSE:TOU) insider James William Alexander Heard purchased 1,000 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of C$59.08 per share, with a total value of C$59,080.00. Following the purchase, the insider directly owned 66,476 shares of the company’s stock, valued at approximately C$3,927,402.08. The trade was a 1.53% increase in their position.

Tourmaline Oil Price Performance

Shares of TSE TOU opened at C$59.79 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.83 and a debt-to-equity ratio of 12.25. The company has a market capitalization of C$23.15 billion, a PE ratio of 87.93, a P/E/G ratio of 1.72 and a beta of -0.10. The firm has a fifty day simple moving average of C$64.09 and a 200 day simple moving average of C$62.34. Tourmaline Oil Corp. has a twelve month low of C$56.72 and a twelve month high of C$70.57.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. The firm had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. On average, sell-side analysts forecast 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 was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s payout ratio is 294.12%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Raymond James Financial boosted their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research 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 decreased their target price on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Canadian Imperial Bank of Commerce decreased their target price on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Finally, Royal Bank Of Canada reduced their price objective on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research report on Friday, March 6th. Three investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Tourmaline Oil presently has an average 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.