Tourmaline Oil Corp. (TSE:TOU – Get Rating) Senior Officer Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction on Friday, September 23rd. The shares were purchased at an average cost of C$69.59 per share, with a total value of C$347,955.00. Following the acquisition, the insider now directly owns 8,859,974 shares of the company's stock, valued at C$616,574,450.63.
Mike Rose also recently made the following trade(s):
Get Tourmaline Oil alerts:- On Thursday, August 4th, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$72.05 per share, with a total value of C$360,267.00.
- On Tuesday, August 2nd, Mike Rose bought 5,000 shares of Tourmaline Oil stock. The shares were purchased at an average cost of C$78.14 per share, with a total value of C$390,712.00.
Tourmaline Oil Trading Down 5.6 %
Shares of Tourmaline Oil stock opened at C$69.37 on Friday. The firm has a market capitalization of C$23.31 billion and a price-to-earnings ratio of 9.44. Tourmaline Oil Corp. has a fifty-two week low of C$38.10 and a fifty-two week high of C$84.33. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.58 and a current ratio of 0.62. The stock has a 50 day moving average of C$76.23 and a 200 day moving average of C$69.36.
Tourmaline Oil (TSE:TOU – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The company reported C$2.40 earnings per share for the quarter, missing the consensus estimate of C$2.83 by C($0.43). The company had revenue of C$1.82 billion during the quarter. As a group, research analysts predict that Tourmaline Oil Corp. will post 12.9700004 earnings per share for the current year.Tourmaline Oil Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 29th will be given a $0.225 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $0.90 annualized dividend and a yield of 1.30%. Tourmaline Oil's payout ratio is 10.54%.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. TD Securities raised Tourmaline Oil from a "hold" rating to a "buy" rating and increased their target price for the company from C$80.00 to C$96.00 in a report on Thursday, June 30th. Raymond James increased their target price on Tourmaline Oil from C$85.00 to C$90.00 and gave the company a "strong-buy" rating in a report on Tuesday, July 5th. Scotiabank increased their price target on Tourmaline Oil from C$106.00 to C$116.00 in a report on Monday, September 19th. Stifel Nicolaus increased their price target on Tourmaline Oil from C$90.50 to C$96.50 in a report on Monday, July 4th. Finally, CIBC increased their price target on Tourmaline Oil from C$90.00 to C$100.00 in a report on Monday, August 22nd. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tourmaline Oil presently has a consensus rating of "Buy" and an average target price of C$86.32.
About Tourmaline Oil
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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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