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 business’s stock in a transaction dated Tuesday, January 7th. The shares were bought at an average price of C$68.38 per share, with a total value of C$170,945.00.

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

• On Monday, December 16th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$62.09 per share, for a total transaction of C$155,216.50.
• On Thursday, December 12th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$62.90 per share, with a total value of C$157,252.00.
• On Friday, November 8th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$62.27 per share, for a total transaction of C$155,664.50.
• On Tuesday, October 15th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$63.32 per share, with a total value of C$158,310.00.
• On Wednesday, October 9th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$63.95 per share, for a total transaction of C$159,875.00.

Tourmaline Oil Price Performance

TSE:TOU opened at C$68.72 on Thursday. The company’s 50-day moving average is C$64.41 and its two-hundred day moving average is C$62.48. 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 firm has a market cap of C$25.51 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. Tourmaline Oil Corp. has a 12-month low of C$53.45 and a 12-month high of C$69.70.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). The firm had revenue of C$1.47 billion during the quarter, compared to analyst estimates of C$1.63 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. Research analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.04%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, December 16th. Tourmaline Oil’s payout ratio is 33.18%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TOU shares. UBS Group lifted their price target on Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Jefferies Financial Group boosted their target price on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. TD Securities reduced their price objective on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Canaccord Genuity Group lowered their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Finally, National Bankshares lifted their price target on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$78.42.

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.