Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Buys C$302,778.50 in Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of C$60.56 per share, with a total value of C$302,778.50.

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

• On Friday, June 14th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$62.88 per share, for a total transaction of C$314,392.00.
• On Wednesday, June 12th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$66.10 per share, with a total value of C$165,250.00.
• On Wednesday, May 29th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were bought at an average price of C$66.43 per share, with a total value of C$166,064.50.

Tourmaline Oil Trading Up 1.6 %

TSE:TOU opened at C$63.20 on Friday. Tourmaline Oil Corp. has a 1 year low of C$53.45 and a 1 year high of C$74.21. The company has a debt-to-equity ratio of 9.61, a quick ratio of 0.47 and a current ratio of 0.89. The stock has a fifty day moving average price of C$61.59 and a two-hundred day moving average price of C$62.40. The stock has a market capitalization of C$22.22 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.72 and a beta of 1.39.

Tourmaline Oil Cuts Dividend

The company also recently disclosed a None dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 13th. Tourmaline Oil’s dividend payout ratio is presently 25.65%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Stifel Nicolaus raised their price objective on Tourmaline Oil from C$75.00 to C$80.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Canaccord Genuity Group boosted their price target on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a “buy” rating in a research report on Tuesday. National Bankshares upped their price objective on shares of Tourmaline Oil from C$70.00 to C$72.50 and gave the company an “outperform” rating in a research note on Tuesday. UBS Group raised shares of Tourmaline Oil to a “hold” rating in a research note on Thursday, June 20th. Finally, CIBC upped their price target on Tourmaline Oil from C$77.50 to C$80.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target 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.