Mike Rose Buys 2,500 Shares of Tourmaline Oil Corp. (TSE:TOU) 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, with a total value of C$146,004.50.

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

• On Tuesday, September 10th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was bought at an average price of C$57.07 per share, with a total value of C$285,369.00.
• On Tuesday, September 3rd, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were bought at an average cost of C$59.54 per share, for a total transaction of C$148,849.50.
• On Friday, August 30th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was bought at an average cost of C$61.12 per share, with a total value of C$305,622.00.
• On Wednesday, August 21st, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$61.59 per share, for a total transaction of C$307,945.00.
• On Tuesday, August 13th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$60.56 per share, with a total value of C$302,778.50.

Tourmaline Oil Stock Down 1.8 %

TOU stock opened at C$58.50 on Friday. The stock has a market capitalization of C$20.62 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.72 and a beta of 1.31. 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 Corp. has a 1-year low of C$53.45 and a 1-year high of C$74.21. The business has a fifty day moving average price of C$60.21 and a 200-day moving average price of C$62.90.

Tourmaline Oil (TSE:TOU) last issued 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 business had revenue of C$1.31 billion during the quarter, compared to analysts’ expectations of C$1.37 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. Equities analysts forecast that Tourmaline Oil Corp. will post 6.5144766 earnings per share for the current fiscal year.

Tourmaline Oil Cuts Dividend

The business also recently announced a None dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a $0.50 dividend. This represents a yield of 2.26%. The ex-dividend date of this dividend is Friday, September 13th. Tourmaline Oil’s dividend payout ratio is currently 33.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TOU shares. National Bankshares increased their price objective on Tourmaline Oil from C$70.00 to C$72.50 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Desjardins lifted their price target on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. UBS Group raised shares of Tourmaline Oil to a “hold” rating in a research note on Thursday, June 20th. Jefferies Financial Group decreased their target price on shares of Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Canaccord Genuity Group boosted their price target on Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a “buy” rating in a research report 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 target price 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.