Insider Buying: Tourmaline Oil Corp. (TSE:TOU) Senior Officer Buys 5,000 Shares of Stock

Tourmaline Oil Corp. (TSE:TOU) Senior Officer Mike Rose bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average price of C$60.56 per share, with a total value of C$302,778.50.

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

• On Friday, June 14th, Mike Rose acquired 5,000 shares of Tourmaline Oil stock. The shares were bought at an average price of C$62.88 per share, with a total value of C$314,392.00.
• On Wednesday, June 12th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The stock was purchased at an average price of C$66.10 per share, for a total transaction of C$165,250.00.
• On Wednesday, May 29th, Mike Rose bought 2,500 shares of Tourmaline Oil stock. The shares were purchased at an average price of C$66.43 per share, with a total value of C$166,064.50.

Tourmaline Oil Stock Up 1.6 %

Shares of TSE TOU opened at C$63.20 on Friday. Tourmaline Oil Corp. has a 1 year low of C$53.45 and a 1 year high of C$74.21. The firm’s 50-day moving average is C$61.59 and its 200-day moving average is C$62.40. The company has a current ratio of 0.89, a quick ratio of 0.47 and a debt-to-equity ratio of 9.61. The firm has a market capitalization of C$22.22 billion, a PE ratio of 12.67, a price-to-earnings-growth ratio of 1.72 and a beta of 1.39.

Tourmaline Oil Cuts Dividend

The firm also recently disclosed a None dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.50 dividend. The ex-dividend date is Friday, September 13th. Tourmaline Oil’s payout ratio is presently 25.65%.

Wall Street Analyst Weigh In

A number of research firms have commented on TOU. Scotiabank boosted their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research report on Tuesday. Desjardins boosted their target price on Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus raised their price target on Tourmaline Oil from C$75.00 to C$80.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. UBS Group raised Tourmaline Oil to a “hold” rating in a research note on Thursday, June 20th. Finally, National Bankshares raised their target price on Tourmaline Oil from C$70.00 to C$72.50 and gave the company an “outperform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tourmaline Oil currently has a consensus rating of “Buy” and an average target price of C$79.04.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.