Tourmaline Oil Corp. (TSE:TOU – Get Free Report) insider Mike Rose acquired 5,000 shares of the stock in a transaction dated Friday, April 24th. The shares were acquired at an average cost of C$59.45 per share, with a total value of C$297,250.00. Following the completion of the transaction, the insider owned 1,500,000 shares in the company, valued at approximately C$89,175,000. This represents a 0.33% increase in their position.
Mike Rose also recently made the following trade(s):
- On Wednesday, March 25th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$68.50 per share, with a total value of C$171,250.00.
- On Monday, February 2nd, Mike Rose bought 10,000 shares of Tourmaline Oil stock. The stock was purchased at an average cost of C$62.21 per share, with a total value of C$622,100.00.
Tourmaline Oil Price Performance
Shares of TSE TOU opened at C$59.83 on Monday. The stock has a market cap of C$23.17 billion, a PE ratio of 87.99, a price-to-earnings-growth 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. Tourmaline Oil Corp. has a 52-week low of C$56.72 and a 52-week high of C$70.57. The business has a 50-day moving average price of C$63.93 and a 200 day moving average price of C$62.32.
Tourmaline Oil Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.00 annualized dividend and a yield of 3.3%. Tourmaline Oil’s dividend payout ratio is currently 294.12%.
Analyst Ratings Changes
Several research firms have commented on TOU. Desjardins upped their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Canadian Imperial Bank of Commerce reduced their price objective on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Royal Bank Of Canada reduced their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Raymond James Financial upped their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Finally, ATB Cormark Capital Markets reduced their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Three equities research 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of C$71.25.
Check Out Our Latest Analysis on TOU
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.
Further Reading
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