Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Acquires C$323,258.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average price of C$64.65 per share, with a total value of C$323,258.00.

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

• On Friday, March 22nd, Mike Rose acquired 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$59.42 per share, with a total value of C$148,543.00.
• On Friday, March 8th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$62.25 per share, with a total value of C$311,259.00.
• On Monday, February 5th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$55.41 per share, with a total value of C$277,025.00.

Tourmaline Oil Price Performance

Shares of Tourmaline Oil stock opened at C$64.78 on Monday. The stock has a 50 day moving average of C$63.47 and a 200 day moving average of C$62.88. Tourmaline Oil Corp. has a 12 month low of C$53.45 and a 12 month high of C$74.21. The firm has a market cap of C$22.77 billion, a PE ratio of 12.88, a PEG ratio of 1.72 and a beta of 1.40. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, beating analysts’ consensus estimates of C$1.41 by C$0.59. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. The company had revenue of C$1.66 billion during the quarter, compared to analyst estimates of C$1.49 billion. On average, research analysts expect that Tourmaline Oil Corp. will post 4.710507 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 16th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, May 8th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 1.98%. Tourmaline Oil’s dividend payout ratio is presently 23.86%.

Analysts Set New Price Targets

TOU has been the subject of a number of analyst reports. TD Securities reduced their price target on Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Canaccord Genuity Group upped their price target on Tourmaline Oil from C$72.50 to C$73.50 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group upped their price target on Tourmaline Oil from C$70.00 to C$75.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Scotiabank reduced their price target on Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Finally, Raymond James reduced their price target on Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating for the company in a research report on Friday, January 19th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus 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.