Tourmaline Oil Corp. (TSE:TOU) Receives C$76.72 Consensus Price Target from Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$76.72.

Several research firms recently commented on TOU. Raymond James set a C$78.00 price target on Tourmaline Oil and gave the stock an “outperform” rating in a research report on Tuesday, April 8th. CIBC reduced their target price on shares of Tourmaline Oil from C$80.00 to C$72.50 in a research report on Thursday, April 10th. TD Securities lowered their price target on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Thursday, May 8th. UBS Group cut their price objective on shares of Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday, April 17th. Finally, Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th.

Tourmaline Oil Trading Down 0.4%

Shares of TOU opened at C$65.03 on Monday. Tourmaline Oil has a 12 month low of C$55.27 and a 12 month high of C$70.83. The stock’s 50-day moving average is C$63.71 and its two-hundred day moving average is C$65.05. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The stock has a market cap of C$24.23 billion, a PE ratio of 14.68, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Increases Dividend

The business 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. The ex-dividend date was Friday, March 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.08%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.35. Tourmaline Oil’s payout ratio is presently 31.61%.

Insider Activity

In related news, Senior Officer William Scott Kirker sold 56,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. Also, Senior Officer Mike Rose bought 2,500 shares of the business’s stock in a transaction on Friday, March 7th. The stock was acquired at an average cost of C$63.30 per share, for a total transaction of C$158,252.50. In the last 90 days, insiders have purchased 15,000 shares of company stock worth $947,880. 5.13% of the stock is currently owned by corporate insiders.

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.