Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Purchases 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 that occurred on Monday, December 16th. The shares were bought at an average cost of C$62.09 per share, with a total value of C$155,216.50.

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

• On Thursday, December 12th, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were bought 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 stock was purchased at an average cost of C$62.27 per share, for a total transaction of C$155,664.50.
• On Tuesday, October 15th, Mike Rose purchased 2,500 shares of Tourmaline Oil stock. The shares were 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$63.95 per share, for a total transaction of C$159,875.00.
• On Friday, September 20th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$58.40 per share, with a total value of C$146,004.50.

Tourmaline Oil Stock Down 1.3 %

Shares of TSE:TOU opened at C$60.72 on Thursday. Tourmaline Oil Corp. has a 12-month low of C$53.45 and a 12-month high of C$69.25. 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$22.54 billion, a PE ratio of 14.39, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a fifty day simple moving average of C$63.99 and a 200 day simple moving average of C$62.58.

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

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Monday, December 16th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s dividend payout ratio (DPR) is currently 33.18%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TOU. Jefferies Financial Group boosted their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday. Cormark raised shares of Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. UBS Group raised their price objective on Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Canaccord Genuity Group decreased their target price on Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Finally, TD Securities dropped their target price on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tourmaline Oil presently has an average rating of “Moderate Buy” and an average price target of C$78.21.

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.