Tourmaline Oil Corp. (TSE:TOU – Get Free Report) insider Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Friday, May 29th. The shares were bought at an average cost of C$63.79 per share, with a total value of C$318,950.00. Following the completion of the purchase, the insider owned 1,505,000 shares in the company, valued at approximately C$96,003,950. This represents a 0.33% increase in their ownership of the stock.
Mike Rose also recently made the following trade(s):
- On Thursday, May 28th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$63.70 per share, with a total value of C$159,250.00.
- On Monday, May 25th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$65.98 per share, with a total value of C$164,950.00.
- On Thursday, May 14th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$65.20 per share, with a total value of C$326,000.00.
- On Friday, May 8th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$64.60 per share, for a total transaction 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, for a total transaction of C$297,250.00.
- On Wednesday, March 25th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$68.50 per share, for a total transaction of C$171,250.00.
Tourmaline Oil Stock Down 1.5%
TSE:TOU traded down C$0.98 during trading hours on Friday, hitting C$63.12. 564,081 shares of the company’s stock traded hands, compared to its average volume of 2,667,975. The firm has a market cap of C$24.51 billion, a P/E ratio of 34.87, a P/E/G ratio of 1.72 and a beta of -0.12. Tourmaline Oil Corp. has a twelve month low of C$56.72 and a twelve month high of C$70.57. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The stock’s fifty day moving average price is C$64.79 and its two-hundred day moving average price is C$63.12.
Tourmaline Oil Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s payout ratio is presently 110.50%.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on TOU. Raymond James Financial lifted their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research report on Thursday, May 7th. ATB Cormark Capital Markets reduced their price objective on 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. Finally, Royal Bank Of Canada reduced their price objective on 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 analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$71.00.
Get Our Latest Stock Report on TOU
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.
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