Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Buys C$146,004.50 in Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was acquired at an average cost of C$58.40 per share, for a total transaction of C$146,004.50.

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

• On Tuesday, September 10th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$57.07 per share, for a total transaction of C$285,369.00.
• On Tuesday, September 3rd, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$59.54 per share, with a total value of C$148,849.50.
• On Friday, August 30th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were purchased 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 purchased 5,000 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$61.59 per share, for a total transaction of C$307,945.00.
• On Tuesday, August 13th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$60.56 per share, for a total transaction of C$302,778.50.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$58.50 on Monday. Tourmaline Oil Corp. has a one year low of C$53.45 and a one year high of C$74.21. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The firm has a market capitalization of C$20.62 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.72 and a beta of 1.31. The company’s fifty day moving average price is C$60.21 and its 200-day moving average price is C$62.90.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.09 by C($0.37). The firm had revenue of C$1.31 billion during the quarter, compared to the consensus estimate of C$1.37 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, equities research analysts anticipate that Tourmaline Oil Corp. will post 6.5144766 earnings per share for the current fiscal year.

Tourmaline Oil Cuts Dividend

The firm also recently declared a None dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s payout ratio is 33.18%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TOU. National Bankshares raised their price target on shares of Tourmaline Oil from C$70.00 to C$72.50 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. Desjardins raised their price objective on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Jefferies Financial Group cut their price target on Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating for the company in a report on Monday, September 16th. UBS Group upgraded Tourmaline Oil to a “hold” rating in a research note on Thursday, June 20th. Finally, Canaccord Genuity Group raised their target price on Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a “buy” 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. Based on data from MarketBeat, Tourmaline Oil presently has a consensus rating of “Buy” and an average price target of C$78.38.

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.