Tourmaline Oil (TSE:TOU) Lowered to Hold Rating by Desjardins

Desjardins downgraded shares of Tourmaline Oil (TSE:TOU - Free Report) from a buy rating to a hold rating in a report published on Wednesday, MarketBeat.com reports. The firm currently has C$74.00 price objective on the stock, down from their prior price objective of C$80.00.

A number of other analysts also recently weighed in on TOU. CIBC upped their target price on Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. National Bankshares upped their price objective on shares of 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 increased their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. UBS Group boosted their target price on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Finally, Cormark upgraded shares of Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of C$78.20.

Tourmaline Oil Stock Performance

Shares of TOU traded up C$0.84 during mid-day trading on Wednesday, hitting C$68.29. 2,073,508 shares of the company's stock were exchanged, compared to its average volume of 2,312,472. 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 firm has a market cap of C$25.45 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The stock's 50-day simple moving average is C$67.08 and its 200-day simple moving average is C$64.66. Tourmaline Oil has a 52 week low of C$55.27 and a 52 week high of C$70.83.

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Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Tourmaline Oil's previous quarterly dividend of $0.35. Tourmaline Oil's payout ratio is presently 31.61%.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Director Jill Terilee Angevine bought 1,000 shares of Tourmaline Oil stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of C$66.63 per share, with a total value of C$66,630.00. Also, Senior Officer Mike Rose purchased 2,500 shares of the company's stock in a transaction dated Tuesday, January 7th. The shares were acquired at an average cost of C$68.38 per share, with a total value of C$170,945.00. Over the last ninety days, insiders purchased 16,000 shares of company stock worth $1,054,314. Corporate insiders own 5.13% of the company's stock.

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.