Tourmaline Oil Corp. (TSE:TOU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Tourmaline Oil Corp. (TSE:TOU) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is C$77.95.

TOU has been the subject of several research analyst reports. Raymond James set a C$78.00 price objective on Tourmaline Oil and gave the stock an “outperform” rating in a research note on Tuesday, April 8th. National Bankshares boosted their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Desjardins boosted their target price on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a “hold” rating in a research note on Tuesday. Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. Finally, UBS Group raised their price objective on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th.

Insider Buying and Selling

In related news, Senior Officer Mike Rose acquired 2,500 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were bought at an average price of C$67.43 per share, for a total transaction of C$168,575.00. Also, Director Jill Terilee Angevine purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average cost of C$66.63 per share, with a total value of C$66,630.00. Over the last three months, insiders purchased 11,000 shares of company stock worth $717,260. 5.13% of the stock is owned by company insiders.

Tourmaline Oil Trading Up 1.9 %

TOU stock opened at C$61.89 on Thursday. Tourmaline Oil has a 12 month low of C$55.27 and a 12 month high of C$70.83. The firm’s 50-day moving average is C$65.61 and its 200 day moving average is C$65.20. The company has a market capitalization of C$23.06 billion, a PE ratio of 13.97, 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 current ratio of 1.01 and a quick ratio of 0.47.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. Tourmaline Oil’s dividend payout ratio (DPR) is 31.61%.

About Tourmaline Oil

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.