Tourmaline Oil Corp. (TSE:TOU) Given Consensus Rating of "Moderate Buy" by Brokerages

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the nine research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is C$78.20.

A number of brokerages recently weighed in on TOU. Cormark raised shares of Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research report on Friday, March 7th. Jefferies Financial Group upped their target price on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Desjardins lowered Tourmaline Oil from a "buy" rating to a "hold" rating and cut their price target for the stock from C$80.00 to C$74.00 in a research report on Wednesday, March 19th. CIBC raised their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. Finally, UBS Group upped their price target on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th.

Tourmaline Oil Stock Up 1.2 %

Tourmaline Oil stock traded up C$0.82 during mid-day trading on Friday, hitting C$69.52. The company had a trading volume of 748,882 shares, compared to its average volume of 2,322,442. 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 has a 1 year low of C$55.27 and a 1 year high of C$70.83. The business has a fifty day moving average of C$67.11 and a 200 day moving average of C$64.74. The stock has a market cap of C$25.91 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 1.72 and a beta of 1.30.

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Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Tourmaline Oil's previous quarterly dividend of $0.35. Tourmaline Oil's payout ratio is currently 31.61%.

Insider Transactions at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 2,500 shares of the business's stock in a transaction dated Friday, March 7th. The stock was acquired at an average price of C$63.30 per share, for a total transaction of C$158,252.50. Also, Director Jill Terilee Angevine acquired 1,000 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. In the last three months, insiders acquired 16,000 shares of company stock valued at $1,054,314. Corporate insiders own 5.13% of the company's stock.

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.