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

Tourmaline Oil Corp. (TSE:TOU) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$78.56.

Several research analysts have recently weighed in on TOU shares. Desjardins cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$80.00 to C$74.00 in a research note on Wednesday, March 19th. CIBC boosted their price target on Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. National Bankshares upped their price target on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Jefferies Financial Group lifted their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Finally, UBS Group increased their target price on shares of Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th.

Tourmaline Oil Stock Performance

TOU opened at C$68.85 on Friday. The company’s 50 day moving average is C$67.20 and its 200 day moving average is C$64.87. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The company has a market cap of C$25.66 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 12-month low of C$55.27 and a 12-month high of C$70.83.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.90%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 14th. Tourmaline Oil’s dividend payout ratio is presently 31.61%.

Insider Buying and Selling at Tourmaline Oil

In related news, Director Jill Terilee Angevine acquired 1,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price of C$66.63 per share, with a total value of C$66,630.00. Also, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of C$64.25 per share, for a total transaction of C$160,612.50. Insiders purchased a total of 16,000 shares of company stock valued at $1,054,314 in the last three months. 5.13% of the stock is currently owned by corporate insiders.

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.