Tourmaline Oil Corp. (TSE:TOU) Senior Officer Purchases C$146,004.50 in Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose purchased 2,500 shares of the business’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of C$58.40 per share, for a total transaction of C$146,004.50.

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

• On Tuesday, September 10th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were 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 purchased 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average price of C$59.54 per share, for a total transaction of C$148,849.50.
• On Friday, August 30th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The stock was acquired 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 acquired 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 purchased 5,000 shares of Tourmaline Oil stock. The stock was acquired at an average cost of C$60.56 per share, with a total value of C$302,778.50.

Tourmaline Oil Stock Performance

Tourmaline Oil stock opened at C$58.50 on Monday. Tourmaline Oil Corp. has a twelve month low of C$53.45 and a twelve month high of C$74.21. 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 company has a market capitalization of C$20.62 billion, a P/E ratio of 13.86, a PEG ratio of 1.72 and a beta of 1.31. The stock’s 50 day moving average is C$60.21 and its 200 day moving average is C$62.90.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, July 31st. The company reported C$0.72 EPS for the quarter, missing analysts’ consensus estimates of C$1.09 by C($0.37). The company 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%. On average, equities research analysts predict that Tourmaline Oil Corp. will post 6.5144766 earnings per share for the current fiscal year.

Tourmaline Oil Cuts Dividend

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

Wall Street Analysts Forecast Growth

TOU has been the subject of several 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 report on Tuesday, August 13th. Jefferies Financial Group decreased their price target 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. UBS Group upgraded shares of Tourmaline Oil to a “hold” rating in a report on Thursday, June 20th. Canaccord Genuity Group upped their target price on Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Scotiabank raised their target price on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tourmaline Oil currently has an average 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.