Tourmaline Oil (TSE:TOU) Insider Purchases C$622,100.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider Mike Rose acquired 10,000 shares of Tourmaline Oil stock in a transaction dated Monday, February 2nd. The stock was purchased at an average cost of C$62.21 per share, for a total transaction of C$622,100.00. Following the completion of the purchase, the insider directly owned 8,042,678 shares in the company, valued at approximately C$500,334,998.38. This represents a 0.12% increase in their ownership of the stock.

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

• On Wednesday, January 14th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were acquired at an average cost of C$58.72 per share, with a total value of C$146,800.00.

Tourmaline Oil Trading Down 0.1%

TSE TOU opened at C$61.80 on Tuesday. The firm has a market capitalization of C$23.92 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.72 and a beta of 0.12. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. Tourmaline Oil Corp. has a one year low of C$55.40 and a one year high of C$70.83. The company’s 50 day moving average price is C$61.27 and its 200 day moving average price is C$60.71.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. Tourmaline Oil’s dividend payout ratio (DPR) is 52.86%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group decreased their price target on Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Raymond James Financial decreased their target price on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 27th. Desjardins boosted their price objective on shares of Tourmaline Oil from C$68.00 to C$70.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce decreased their price objective on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Tourmaline Oil has a consensus rating of “Buy” and an average price target of C$71.56.

About Tourmaline Oil

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.