Tourmaline Oil (TSE:TOU) Reaches New 12-Month High - Time to Buy?

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$70.69 and last traded at C$70.47, with a volume of 320696 shares changing hands. The stock had previously closed at C$70.41.

Analysts Set New Price Targets

TOU has been the subject of several research analyst reports. Jefferies Financial Group upped their price target on shares of 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 lowered their price target for the stock from C$80.00 to C$74.00 in a research note on Wednesday, March 19th. UBS Group boosted their price target on Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Cormark upgraded Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a report on Friday, March 7th. Finally, National Bankshares upped their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of C$78.56.

Tourmaline Oil Trading Down 4.2 %

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's 50-day moving average is C$67.14 and its 200-day moving average is C$65.33. The stock has a market capitalization of C$22.20 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.36%. This is an increase from Tourmaline Oil's previous quarterly dividend of $0.35. Tourmaline Oil's dividend payout ratio (DPR) is currently 31.61%.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction dated Thursday, January 16th. The stock was acquired at an average cost of C$66.44 per share, for a total transaction of C$166,109.00. Also, Director Jill Terilee Angevine bought 1,000 shares of the firm's stock in a transaction on Friday, January 31st. The stock was bought at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. Over the last three months, insiders have acquired 16,000 shares of company stock worth $1,054,314. 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.