Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose Acquires 5,000 Shares

Tourmaline Oil Corp. (TSE:TOUGet Rating) Senior Officer Mike Rose purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The shares were bought at an average cost of C$62.66 per share, with a total value of C$313,314.00. Following the transaction, the insider now directly owns 8,784,973 shares of the company’s stock, valued at approximately C$550,491,006.10.

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

  • On Friday, June 17th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$67.55 per share, with a total value of C$337,729.00.
  • On Monday, June 6th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$78.85 per share, with a total value of C$394,259.50.
  • On Thursday, May 12th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$66.48 per share, with a total value of C$332,414.50.
  • On Monday, May 9th, Mike Rose purchased 10,000 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$69.80 per share, with a total value of C$698,000.00.

Tourmaline Oil stock traded down C$5.38 during midday trading on Thursday, hitting C$61.40. The company’s stock had a trading volume of 2,516,874 shares, compared to its average volume of 1,764,072. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 5.45. The stock’s 50-day moving average price is C$70.90 and its 200-day moving average price is C$55.79. Tourmaline Oil Corp. has a 12 month low of C$29.25 and a 12 month high of C$80.66. The company has a market capitalization of C$20.56 billion and a PE ratio of 10.70.

Tourmaline Oil (TSE:TOUGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported C$0.77 EPS for the quarter, missing the consensus estimate of C$2.01 by C($1.24). The business had revenue of C$1.10 billion for the quarter. As a group, equities analysts anticipate that Tourmaline Oil Corp. will post 9.3504875 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 30th will be paid a $0.225 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $0.90 dividend on an annualized basis and a yield of 1.47%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.20. Tourmaline Oil’s dividend payout ratio (DPR) is currently 11.37%.

A number of equities analysts have commented on TOU shares. BMO Capital Markets lifted their price objective on shares of Tourmaline Oil from C$75.00 to C$80.00 in a report on Thursday, May 5th. Stifel Nicolaus raised their target price on Tourmaline Oil from C$87.25 to C$90.50 in a research note on Friday, June 3rd. Cormark raised their target price on Tourmaline Oil from C$70.00 to C$85.00 and gave the company a “buy” rating in a research note on Monday, April 18th. CIBC raised their target price on Tourmaline Oil from C$65.00 to C$75.00 in a research note on Thursday, April 14th. Finally, Raymond James raised their target price on Tourmaline Oil from C$80.00 to C$85.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 5th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tourmaline Oil currently has a consensus rating of “Buy” and a consensus price target of C$67.46.

About Tourmaline Oil (Get Rating)

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

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