One company I have begun to follow quite closely in recent months is Canadian oil company Tourmaline Oil Corp. (TSX:TOU), a company which has seen its share price continue to drop in recent years as commodity prices have continued to decline and investor appetite for equities in this sector has dried up.
As of right now, with few other true value opportunities available to investors, a company like Tourmaline can provide long-term investors with steady return, especially given the fact that Tourmaline has just announced its first dividend to be paid out in January (which would yield investors right around 2% currently).
The company's CEO and Chairman Michael Rose has remained bullish on the company, buying three rounds of 5,000 shares this past month in anticipation of future growth. At the company's current valuation, it is hard to disagree with such a move, and I would encourage investors to take a deep look at this company which is trading at a price-to-book value of 0.79.
As always, a reminder that insider selling is in no way an indication of the direction a stock is expected to move in the near-term, and long-term investors should assess the fundamentals of said company and consult an investment advisor before making any purchases.
Invest wisely, my friends.
