Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Director Acquires C$66,630.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) Director Jill Terilee Angevine purchased 1,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were acquired at an average price of C$66.63 per share, for a total transaction of C$66,630.00.

Tourmaline Oil Stock Performance

TSE:TOU opened at C$66.21 on Monday. The business has a fifty day simple moving average of C$65.70 and a two-hundred day simple moving average of C$63.17. Tourmaline Oil Corp. has a 1 year low of C$53.45 and a 1 year high of C$70.65. The company has a market capitalization of C$24.58 billion, a P/E ratio of 15.69, 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 earnings results 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 business had revenue of C$1.47 billion for the quarter, compared to the consensus estimate of C$1.63 billion. On average, analysts expect that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.35 per share. The ex-dividend date was Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 2.11%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s payout ratio is currently 33.18%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TOU. National Bankshares boosted their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. CIBC upped their price objective on shares of Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. TD Securities reduced their target price 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. Canaccord Genuity Group decreased their target price on Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group increased their price target on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$77.82.

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.