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 company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of C$59.54 per share, with a total value of C$148,849.50.

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

• On Friday, August 30th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$61.12 per share, for a total transaction of C$305,622.00.
• On Wednesday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$61.59 per share, with a total value of C$307,945.00.
• On Tuesday, August 13th, Mike Rose bought 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.
• On Friday, June 14th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$62.88 per share, with a total value of C$314,392.00.
• On Wednesday, June 12th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$66.10 per share, for a total transaction of C$165,250.00.

Tourmaline Oil Trading Up 0.8 %

TSE TOU opened at C$59.92 on Friday. The company has a market capitalization of C$21.12 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.72 and a beta of 1.32. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. Tourmaline Oil Corp. has a 12 month low of C$53.45 and a 12 month high of C$74.21. The company’s fifty day moving average price is C$60.85 and its two-hundred day moving average price is C$62.97.

Tourmaline Oil Cuts Dividend

The company also recently declared a None dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be paid 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 (DPR) is 31.28%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. National Bankshares increased their target price on Tourmaline Oil from C$70.00 to C$72.50 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Desjardins increased their price objective on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. UBS Group raised shares of Tourmaline Oil to a “hold” rating in a research report on Thursday, June 20th. 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, Scotiabank lifted their price target on shares of 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. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$79.04.

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.