Tourmaline Oil Corp. (TSE:TOU) Receives C$74.50 Consensus Price Target from Brokerages

Key Points

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Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has received an average rating of "Moderate Buy" from the six research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is C$74.50.

A number of research firms have issued reports on TOU. Royal Bank Of Canada decreased their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. TD Securities decreased their target price on Tourmaline Oil from C$76.00 to C$73.00 and set a "buy" rating for the company in a research report on Friday, August 1st. CIBC decreased their target price on Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Raymond James Financial downgraded Tourmaline Oil from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from C$76.00 to C$74.00 in a research report on Thursday, July 31st. Finally, ATB Capital raised their target price on Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st.

Insiders Place Their Bets

In related news, Director Christopher Lee purchased 17,000 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was purchased at an average cost of C$58.30 per share, with a total value of C$991,045.60. Following the completion of the acquisition, the director directly owned 17,000 shares of the company's stock, valued at approximately C$991,045.60. The trade was a ∞ increase in their ownership of the stock. Also, Senior Officer Mike Rose purchased 5,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was bought at an average cost of C$58.36 per share, with a total value of C$291,793.00. Insiders bought 37,305 shares of company stock valued at $2,257,368 over the last ninety days. Corporate insiders own 5.13% of the company's stock.

Tourmaline Oil Stock Performance

Shares of TOU traded down C$0.10 on Friday, reaching C$61.89. 1,946,362 shares of the company's stock traded hands, compared to its average volume of 2,455,475. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The stock has a market cap of C$23.94 billion, a PE ratio of 15.40, a PEG ratio of 1.72 and a beta of 0.40. The stock's 50 day simple moving average is C$59.33 and its two-hundred day simple moving average is C$62.41. Tourmaline Oil has a 52-week low of C$55.40 and a 52-week high of C$70.83.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be given a $0.50 dividend. This is an increase from Tourmaline Oil's previous quarterly dividend of $0.35. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. Tourmaline Oil's dividend payout ratio (DPR) is 42.29%.

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.