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

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were purchased at an average cost of C$63.95 per share, with a total value of C$159,875.00.

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

• On Friday, September 20th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$58.40 per share, for a total transaction of C$146,004.50.
• On Tuesday, September 10th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$57.07 per share, for a total transaction of C$285,369.00.
• On Tuesday, September 3rd, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$59.54 per share, for a total transaction of C$148,849.50.
• On Friday, August 30th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.12 per share, with a total value of C$305,622.00.
• On Wednesday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$61.59 per share, for a total transaction of C$307,945.00.
• On Tuesday, August 13th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$60.56 per share, with a total value of C$302,778.50.

Tourmaline Oil Price Performance

Shares of TOU traded down C$1.03 during mid-day trading on Wednesday, hitting C$63.60. 160,173 shares of the company were exchanged, compared to its average volume of 2,413,457. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. Tourmaline Oil Corp. has a 1-year low of C$53.45 and a 1-year high of C$74.21. The stock has a market cap of C$23.61 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a 50 day moving average of C$60.55 and a 200-day moving average of C$62.97.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, July 31st. The company reported C$0.72 EPS for the quarter, missing analysts’ consensus estimates of C$1.09 by C($0.37). The firm had revenue of C$1.31 billion for the quarter, compared to analyst estimates of C$1.37 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. Analysts expect that Tourmaline Oil Corp. will post 6.68037 EPS for the current fiscal year.

Tourmaline Oil Cuts Dividend

The company also recently disclosed a None dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s payout ratio is currently 33.18%.

Analysts Set New Price Targets

Several research firms have recently commented on TOU. Canaccord Genuity Group lifted their price objective on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Cormark raised Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Jefferies Financial Group dropped their price target on Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Scotiabank raised their price objective on Tourmaline Oil from C$90.00 to C$93.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Finally, UBS Group upgraded Tourmaline Oil to a “hold” rating in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tourmaline Oil presently has an average rating of “Moderate Buy” and a consensus price target 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.