Tourmaline Oil Corp. (TSE:TOU) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

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Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$74.50.

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

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose bought 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were acquired at an average cost of C$58.36 per share, for a total transaction of C$291,793.00. Also, Director Christopher Lee purchased 17,000 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were purchased at an average price of C$58.30 per share, for a total transaction of C$991,045.60. Following the acquisition, the director directly owned 17,000 shares of the company's stock, valued at C$991,045.60. This trade represents a ∞ increase in their ownership of the stock. Insiders bought a total of 37,305 shares of company stock valued at $2,257,368 in the last three months. Insiders own 5.13% of the company's stock.

Tourmaline Oil Stock Performance

TSE TOU opened at C$60.06 on Friday. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. Tourmaline Oil has a 1 year low of C$55.40 and a 1 year high of C$70.83. The company has a market capitalization of C$23.23 billion, a PE ratio of 14.94, a P/E/G ratio of 1.72 and a beta of 0.40. The company has a fifty day moving average of C$59.48 and a two-hundred day moving average of C$62.52.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be paid a dividend of $0.50 per share. This is a positive change from Tourmaline Oil's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.00 annualized dividend and a yield of 3.3%. Tourmaline Oil's payout ratio is presently 42.29%.

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.

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