Tourmaline Oil Corp. (TSE:TOU) Receives Average Rating of “Moderate Buy” from Brokerages

Tourmaline Oil Corp. (TSE:TOU) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is C$78.45.

Several research analysts recently weighed in on TOU shares. Jefferies Financial Group upped their price target on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. UBS Group increased their target price on Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. National Bankshares lifted their price target on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, CIBC increased their price objective on Tourmaline Oil from C$75.00 to C$80.00 in a research note on Friday, January 17th.

Insider Activity

In other Tourmaline Oil news, Director Jill Terilee Angevine bought 1,000 shares of Tourmaline Oil stock in a transaction on Friday, January 31st. The shares were bought at an average price of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose purchased 2,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of C$62.90 per share, for a total transaction of C$157,252.00. In the last quarter, insiders have bought 16,000 shares of company stock valued at $1,047,918. 5.13% of the stock is currently owned by insiders.

Tourmaline Oil Stock Performance

TSE:TOU opened at C$64.85 on Wednesday. The company has a fifty day moving average of C$67.40 and a two-hundred day moving average of C$64.36. Tourmaline Oil has a fifty-two week low of C$55.27 and a fifty-two week high of C$70.83. The stock has a market capitalization of C$24.17 billion, a PE ratio of 14.64, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01.

Tourmaline Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Monday, December 16th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s payout ratio is currently 31.61%.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.