Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Director Buys 342 Shares of Stock

Tourmaline Oil Corp. (TSE:TOUGet Rating) Director Janet Weiss purchased 342 shares of the business’s stock in a transaction dated Wednesday, April 20th. The shares were acquired at an average price of C$66.34 per share, with a total value of C$22,687.94. Following the completion of the acquisition, the director now owns 8,544 shares of the company’s stock, valued at C$566,800.42.

Tourmaline Oil stock traded down C$0.42 during midday trading on Friday, reaching C$63.00. The stock had a trading volume of 706,699 shares, compared to its average volume of 1,755,978. The firm’s fifty day simple moving average is C$54.10 and its 200-day simple moving average is C$47.44. Tourmaline Oil Corp. has a 1-year low of C$23.70 and a 1-year high of C$66.75. The stock has a market capitalization of C$20.84 billion and a P/E ratio of 9.91. The company has a debt-to-equity ratio of 7.59, a quick ratio of 0.62 and a current ratio of 0.66.

Tourmaline Oil (TSE:TOUGet Rating) last announced its earnings results on Wednesday, March 2nd. The company reported C$2.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$1.43 by C$0.83. The firm had revenue of C$1.53 billion during the quarter. On average, sell-side analysts anticipate that Tourmaline Oil Corp. will post 7.4727617 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Thursday, March 31st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.27%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 14th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 10.47%.

A number of research analysts recently commented on the company. BMO Capital Markets upped their target price on Tourmaline Oil from C$60.00 to C$65.00 in a research note on Monday, March 14th. Cormark upped their target price on Tourmaline Oil from C$70.00 to C$85.00 and gave the company a “buy” rating in a research note on Monday. Raymond James upped their target price on Tourmaline Oil from C$70.00 to C$80.00 and gave the company a “strong-buy” rating in a research note on Friday, March 25th. Scotiabank increased their price objective on Tourmaline Oil from C$77.00 to C$87.00 in a research note on Tuesday, March 8th. Finally, TD Securities dropped their price objective on Tourmaline Oil from C$64.00 to C$63.00 and set a “buy” rating for the company in a research note on Thursday, March 3rd. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tourmaline Oil presently has an average rating of “Buy” and a consensus target price of C$62.85.

About Tourmaline Oil (Get Rating)

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

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