Brokerages Set Tourmaline Oil Corp. (TSE:TOU) PT at C$76.72

Shares of Tourmaline Oil Corp. (TSE:TOU) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$76.72.

Several brokerages have recently weighed in on TOU. UBS Group lowered their target price on Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday, April 17th. CIBC cut their price objective on shares of Tourmaline Oil from C$80.00 to C$72.50 in a research report on Thursday, April 10th. Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. Raymond James Financial set a C$78.00 price objective on Tourmaline Oil and gave the company an “outperform” rating in a report on Tuesday, April 8th. Finally, Desjardins lifted their target price on Tourmaline Oil from C$74.00 to C$76.00 and gave the company a “hold” rating in a research report on Tuesday, April 15th.

Insiders Place Their Bets

In other Tourmaline Oil news, Senior Officer Mike Rose bought 5,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were acquired at an average price of C$62.98 per share, with a total value of C$314,917.00. Also, Senior Officer William Scott Kirker sold 56,000 shares of the stock in a transaction that occurred on 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. In the last quarter, insiders have purchased 35,000 shares of company stock valued at $2,232,931. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Trading Down 1.7%

Shares of TOU opened at C$63.59 on Tuesday. Tourmaline Oil has a 52-week low of C$55.27 and a 52-week high of C$70.83. The stock has a market cap of C$23.70 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The firm’s fifty day moving average is C$64.00 and its two-hundred day moving average is C$65.14. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13.

Tourmaline Oil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Monday, June 16th. Tourmaline Oil’s dividend payout ratio is presently 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.