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 stock in a transaction dated Friday, November 8th. The stock was acquired at an average price of C$62.27 per share, for a total transaction of C$155,664.50.

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

• 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 acquired 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 purchased 2,500 shares of Tourmaline Oil stock. The stock was bought at an average price of C$58.40 per share, with a total value of C$146,004.50.
• On Tuesday, September 10th, Mike Rose purchased 5,000 shares of Tourmaline Oil stock. The stock was purchased 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 acquired 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 price of C$61.12 per share, with a total value of C$305,622.00.
• On Wednesday, August 21st, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were bought 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 shares were acquired at an average price of C$60.56 per share, with a total value of C$302,778.50.

Tourmaline Oil Stock Performance

Shares of TSE:TOU traded down C$1.07 during midday trading on Friday, reaching C$62.09. The company’s stock had a trading volume of 240,295 shares, compared to its average volume of 2,398,555. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24. The stock has a fifty day moving average of C$62.09 and a 200 day moving average of C$63.08. Tourmaline Oil Corp. has a twelve month low of C$53.45 and a twelve month high of C$70.00. The firm has a market capitalization of C$23.05 billion, a PE ratio of 14.97, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last announced its quarterly 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 business had revenue of C$1.47 billion during the quarter, compared to analysts’ expectations of C$1.63 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. On average, equities analysts expect that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $0.50 dividend. This represents a yield of 2.26%. The ex-dividend date of this dividend was Friday, September 13th. Tourmaline Oil’s dividend payout ratio (DPR) is 33.18%.

Analyst Ratings Changes

TOU has been the subject of a number of research reports. Desjardins upped 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 research note on Tuesday, August 13th. National Bankshares set a C$72.50 price objective on shares of Tourmaline Oil and gave the company a “buy” rating in a report on Tuesday, September 24th. Cormark upgraded Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Scotiabank lifted their price target on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group upped their price objective on Tourmaline Oil from C$67.00 to C$73.00 in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$78.41.

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.