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 company’s stock in a transaction dated Thursday, January 16th. The shares were bought at an average price of C$66.44 per share, for a total transaction of C$166,109.00.

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

• On Tuesday, January 7th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$68.38 per share, for a total transaction of C$170,945.00.
• 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$62.90 per share, with a total value of C$157,252.00.
• On Friday, November 8th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$62.27 per share, for a total transaction of C$155,664.50.

Tourmaline Oil Stock Performance

TOU stock traded down C$1.23 during trading on Thursday, reaching C$66.42. 575,827 shares of the stock were exchanged, compared to its average volume of 1,465,323. Tourmaline Oil Corp. has a twelve month low of C$53.45 and a twelve month high of C$70.65. 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 company has a market capitalization of C$24.66 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The stock has a 50 day simple moving average of C$64.83 and a 200-day simple moving average of C$62.68.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.26 by C($0.26). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The business had revenue of C$1.47 billion during the quarter, compared to the consensus estimate of C$1.63 billion. As a group, sell-side analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.11%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, December 16th. Tourmaline Oil’s payout ratio is presently 33.18%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Canaccord Genuity Group dropped their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. UBS Group increased their price target on Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. National Bankshares lifted their price target on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. 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. Finally, Cormark raised shares of Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$78.42.

Tourmaline Oil Company Profile

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.