Insider Buying: Tourmaline Oil (TSE:TOU) Insider Buys C$59,080.00 in Stock

Tourmaline Oil Corp. (TSE:TOU) insider James William Alexander Heard bought 1,000 shares of Tourmaline Oil stock in a transaction dated Friday, April 17th. The shares were bought at an average cost of C$59.08 per share, with a total value of C$59,080.00. Following the completion of the acquisition, the insider owned 66,476 shares of the company’s stock, valued at C$3,927,402.08. The trade was a 1.53% increase in their ownership of the stock.

Tourmaline Oil Stock Performance

Shares of TSE TOU opened at C$59.79 on Monday. Tourmaline Oil Corp. has a 12 month low of C$56.72 and a 12 month high of C$70.57. The company has a market cap of C$23.15 billion, a price-to-earnings ratio of 87.93, a P/E/G ratio of 1.72 and a beta of -0.10. The company has a quick ratio of 0.47, a current ratio of 0.83 and a debt-to-equity ratio of 12.25. The business has a fifty day simple moving average of C$64.09 and a 200-day simple moving average of C$62.36.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. The company had revenue of C$1.66 billion for the quarter. Sell-side analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s dividend payout ratio is currently 294.12%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Jefferies Financial Group reduced their target price on Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Raymond James Financial upped their target price on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Desjardins upped their target price on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Royal Bank Of Canada reduced their target price on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$71.25.

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.