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

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is C$77.05.

Several equities analysts have recently issued reports on the stock. Desjardins raised their price target on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the company a "hold" rating in a research note on Tuesday. National Bankshares lifted their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Raymond James set a C$78.00 target price on Tourmaline Oil and gave the company an "outperform" rating in a report on Tuesday, April 8th. UBS Group lowered their price target on shares of Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday. Finally, Cormark upgraded shares of Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research report on Friday, March 7th.

Tourmaline Oil Trading Up 1.1 %

Shares of TOU stock traded up C$0.70 during mid-day trading on Thursday, reaching C$62.59. 2,159,272 shares of the stock traded hands, compared to its average volume of 2,401,285. The stock's fifty day simple moving average is C$65.35 and its two-hundred day simple moving average is C$65.23. Tourmaline Oil has a 1-year low of C$55.27 and a 1-year high of C$70.83. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The company has a market cap of C$23.32 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Friday, March 14th. This is a boost from Tourmaline Oil's previous quarterly dividend of $0.35. Tourmaline Oil's dividend payout ratio is 31.61%.

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 2,500 shares of the company's stock in a transaction that occurred on Monday, January 27th. The shares were acquired at an average price of C$67.43 per share, with a total value of C$168,575.00. Also, Director Jill Terilee Angevine acquired 1,000 shares of the firm's stock in a transaction on Friday, January 31st. The shares were bought at an average cost of C$66.63 per share, with a total value of C$66,630.00. Insiders bought a total of 11,000 shares of company stock worth $717,260 over the last quarter. 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.