Tourmaline Oil Corp. (TSE:TOU – Get Free Report) insider James William Alexander Heard acquired 1,000 shares of the stock in a transaction on Thursday, June 18th. The stock was bought at an average price of C$58.88 per share, with a total value of C$58,880.00. Following the transaction, the insider directly owned 67,476 shares of the company’s stock, valued at approximately C$3,972,986.88. The trade was a 1.50% increase in their position.
James William Alexander Heard also recently made the following trade(s):
- On Friday, April 17th, James William Alexander Heard bought 1,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.08 per share, with a total value of C$59,080.00.
Tourmaline Oil Stock Down 0.8%
Shares of TSE TOU traded down C$0.48 during mid-day trading on Thursday, hitting C$60.02. 3,033,473 shares of the stock traded hands, compared to its average volume of 2,871,238. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. Tourmaline Oil Corp. has a 52 week low of C$56.72 and a 52 week high of C$70.57. The company has a market cap of C$23.31 billion, a price-to-earnings ratio of 33.16, a PEG ratio of 1.72 and a beta of -0.24. The stock has a fifty day moving average price of C$63.75 and a 200-day moving average price of C$63.27.
Tourmaline Oil Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Tourmaline Oil’s dividend payout ratio is currently 110.50%.
Analyst Ratings Changes
TOU has been the subject of a number of recent research reports. BMO Capital Markets cut shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Desjardins raised their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. ATB Cormark Capital Markets lowered 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 report on Friday, March 6th. Finally, Canaccord Genuity Group cut Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$71.00.
View 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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