Tourmaline Oil (TSE:TOU) Hits New 1-Year High – Here’s What Happened

Tourmaline Oil Corp. (TSE:TOU) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$69.50 and last traded at C$69.29, with a volume of 874083 shares trading hands. The stock had previously closed at C$66.79.

Analyst Ratings Changes

TOU has been the topic of a number of research analyst reports. UBS Group upped their price target on shares of Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. TD Securities reduced their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their price target on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Cormark raised Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Finally, Canaccord Genuity Group decreased their target price on Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$78.42.

Tourmaline Oil Trading Up 0.7 %

The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. The stock has a market capitalization of C$25.51 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a 50-day moving average price of C$64.41 and a 200 day moving average price of C$62.48.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, November 6th. The company reported C$1.00 EPS for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The firm had revenue of C$1.47 billion during the quarter, compared to the consensus estimate of C$1.63 billion. On average, research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.04%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, December 16th. Tourmaline Oil’s dividend payout ratio (DPR) is 33.18%.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were purchased at an average price of C$68.38 per share, for a total transaction of C$170,945.00. Over the last three months, insiders have bought 12,500 shares of company stock valued at $797,388. 5.13% of the stock is currently owned by insiders.

Tourmaline Oil Company Profile

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.