Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Acquires 2,500 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose acquired 2,500 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was purchased 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 purchased 2,500 shares of Tourmaline Oil stock. The stock was acquired 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 acquired 2,500 shares of Tourmaline Oil stock. The stock was acquired 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 bought 2,500 shares of Tourmaline Oil stock. The shares were acquired 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 purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price 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 stock was bought at an average price of C$58.40 per share, for a total transaction of C$146,004.50.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$61.52 on Wednesday. Tourmaline Oil Corp. has a 12 month low of C$53.45 and a 12 month high of C$69.25. The firm has a market capitalization of C$22.84 billion, a price-to-earnings ratio of 14.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The business’s 50 day simple moving average is C$64.18 and its 200-day simple moving average is C$62.63. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last posted 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). 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%. As a group, equities analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm 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 is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, December 16th. Tourmaline Oil’s dividend payout ratio (DPR) is 33.18%.

Wall Street Analyst Weigh In

Several research firms have recently commented on TOU. TD Securities cut their price target on 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. UBS Group raised their target price on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Canaccord Genuity Group lowered their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Cormark raised shares of Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Finally, Jefferies Financial Group lifted their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday. Two equities research 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 MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Moderate Buy” and a consensus target price 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.