Tourmaline Oil (TSE:TOU) Reaches New 12-Month High - Should You Buy?

Tourmaline Oil Corp. (TSE:TOU - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as C$69.50 and last traded at C$69.29, with a volume of 874083 shares changing hands. The stock had previously closed at C$66.79.

Analysts Set New Price Targets

TOU has been the topic of a number of analyst reports. TD Securities decreased their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating on the stock in a research report on Wednesday, October 23rd. UBS Group raised their price objective on Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. Jefferies Financial Group upped their target price on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. National Bankshares increased their target price 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. Finally, Canaccord Genuity Group lowered their price target on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$78.42.

Tourmaline Oil Stock Up 3.5 %

The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The company has a market cap of C$25.67 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The firm's 50-day moving average price is C$64.27 and its 200-day moving average price is C$62.40.

Tourmaline Oil (TSE:TOU - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 EPS for the quarter, missing analysts' consensus estimates of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The company had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. Sell-side analysts forecast that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Tourmaline Oil's previous quarterly dividend of $0.32. Tourmaline Oil's dividend payout ratio is currently 33.18%.

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction dated Tuesday, October 15th. The stock was bought at an average cost of C$63.32 per share, for a total transaction of C$158,310.00. Insiders have bought 12,500 shares of company stock worth $786,318 over the last 90 days. Company insiders own 5.13% of the company's stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.