Tourmaline Oil Corp. (TSE:TOU) Receives C$77.00 Average PT from Analysts

Key Points

• Tourmaline Oil Corp. has received a consensus rating of "Moderate Buy" from analysts, with one hold rating and five buy ratings, and an average 12-month target price of C$77.00.
• The company declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend of $2.00, which reflects a dividend yield of 3.26%.
• Insider trading showed significant activity, with Senior Officer Mike Rose purchasing 5,000 shares and Senior Officer William Scott Kirker selling 56,000 shares recently.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$77.00.

TOU has been the subject of several recent research reports. CIBC reduced their price target on Tourmaline Oil from C$77.50 to C$75.00 in a research report on Friday, July 11th. Raymond James Financial set a C$78.00 price objective on Tourmaline Oil and gave the company an "outperform" rating in a research note on Tuesday, April 8th. Desjardins lifted their price objective on Tourmaline Oil from C$74.00 to C$76.00 and gave the company a "hold" rating in a research note on Tuesday, April 15th. TD Securities dropped their price objective on Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, UBS Group dropped their price target on Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th.

Tourmaline Oil Stock Performance

TSE:TOU traded up C$0.86 during trading hours on Friday, reaching C$62.80. The stock had a trading volume of 1,301,766 shares, compared to its average volume of 2,128,916. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The stock has a 50 day simple moving average of C$63.86 and a 200 day simple moving average of C$64.76. Tourmaline Oil has a 12-month low of C$55.27 and a 12-month high of C$70.83. The stock has a market cap of C$23.40 billion, a P/E ratio of 14.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Monday, June 16th. Tourmaline Oil's dividend payout ratio (DPR) is presently 31.61%.

Insider Transactions at Tourmaline Oil

In related news, Senior Officer William Scott Kirker sold 56,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. Also, Senior Officer Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Monday, July 7th. The shares were acquired at an average price of C$62.92 per share, for a total transaction of C$314,601.00. In the last three months, insiders bought 40,000 shares of company stock valued at $2,547,532. 5.13% of the stock is currently owned by corporate insiders.

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.