Tourmaline Oil Corp. (TSE:TOU) Given Consensus Rating of "Moderate Buy" by 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 assigned a consensus recommendation of "Moderate Buy" from the six analysts that are covering the firm, Marketbeat 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 target price among brokerages that have issued ratings on the stock in the last year is C$77.00.

Several analysts recently commented on the company. UBS Group reduced their target price on Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday, April 17th. Raymond James Financial set a C$78.00 price objective on shares of Tourmaline Oil and gave the company an "outperform" rating in a research note on Tuesday, April 8th. Desjardins increased their price objective on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a research report on Tuesday, April 15th. TD Securities lowered their target price on shares of 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, CIBC cut their price target on shares of Tourmaline Oil from C$77.50 to C$75.00 in a research report on Friday, July 11th.

Insider Activity

In other news, Senior Officer Mike Rose purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of C$62.98 per share, with a total value of C$314,917.00. Also, Senior Officer William Scott Kirker sold 56,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of C$64.94, for a total value of C$3,636,561.60. Insiders have bought 40,000 shares of company stock worth $2,547,532 in the last quarter. Company insiders own 5.13% of the company's stock.

Tourmaline Oil Trading Down 1.0%

Shares of TOU stock opened at C$61.34 on Friday. Tourmaline Oil has a 1-year low of C$55.27 and a 1-year high of C$70.83. 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$22.86 billion, a price-to-earnings ratio of 13.85, a PEG ratio of 1.72 and a beta of 1.30. The stock has a 50-day moving average of C$63.91 and a 200-day moving average of C$64.91.

Tourmaline Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.26%. The ex-dividend date was Monday, June 16th. Tourmaline Oil's dividend payout ratio (DPR) is currently 31.61%.

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.

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