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

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

Tourmaline Oil Stock Performance

TOU opened at C$61.94 on Tuesday. The firm has a fifty day moving average price of C$64.18 and a 200 day moving average price of C$62.63. Tourmaline Oil Corp. has a 1 year low of C$53.45 and a 1 year high of C$69.25. The stock has a market cap of C$22.99 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.72 and a beta of 1.30. 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 issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of C$1.47 billion during the quarter, compared to analyst estimates of C$1.63 billion. Equities research analysts anticipate that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a yield of 2.26%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s dividend payout ratio is currently 33.18%.

Wall Street Analysts Forecast Growth

TOU has been the subject of a number of research analyst reports. UBS Group raised their target price on Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. TD Securities reduced their price objective 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. Jefferies Financial Group upped their target price on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday. National Bankshares set a C$72.50 price target on shares of Tourmaline Oil and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Finally, Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$78.21.

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.