Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Buys 2,500 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose purchased 2,500 shares of the company’s stock in a transaction on Friday, September 20th. The stock was bought at an average cost of C$58.40 per share, for a total transaction of C$146,004.50.

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

• On Tuesday, September 10th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$57.07 per share, with a total value of C$285,369.00.
• On Tuesday, September 3rd, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$59.54 per share, with a total value of C$148,849.50.
• On Friday, August 30th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$61.12 per share, with a total value of C$305,622.00.
• On Wednesday, August 21st, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$61.59 per share, with a total value of C$307,945.00.
• On Tuesday, August 13th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$60.56 per share, for a total transaction of C$302,778.50.

Tourmaline Oil Trading Down 1.7 %

Tourmaline Oil stock traded down C$1.01 during mid-day trading on Friday, hitting C$58.55. The stock had a trading volume of 1,537,730 shares, compared to its average volume of 2,458,241. The stock has a market capitalization of C$20.63 billion, a PE ratio of 14.11, a P/E/G ratio of 1.72 and a beta of 1.31. Tourmaline Oil Corp. has a 12 month low of C$53.45 and a 12 month high of C$74.21. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. The stock has a 50-day simple moving average of C$60.27 and a two-hundred day simple moving average of C$62.93.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.09 by C($0.37). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The business had revenue of C$1.31 billion for the quarter, compared to the consensus estimate of C$1.37 billion. As a group, sell-side analysts forecast that Tourmaline Oil Corp. will post 6.9569378 EPS for the current year.

Tourmaline Oil Cuts Dividend

The business also recently disclosed a None dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s dividend payout ratio is presently 33.18%.

Wall Street Analyst Weigh In

TOU has been the topic of a number of analyst reports. Jefferies Financial Group lowered their price objective on Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating on the stock in a report on Monday. UBS Group raised Tourmaline Oil to a “hold” rating in a research report on Thursday, June 20th. Scotiabank increased their target price on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Canaccord Genuity Group upped their target price on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Desjardins increased their target price on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$78.38.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.