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

Shares of Tourmaline Oil Corp. (TSE:TOU - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$76.72.

TOU has been the subject of a number of recent research reports. Cormark raised shares of Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research note on Friday, March 7th. Desjardins upped their target price on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the company a "hold" rating in a research report on Tuesday, April 15th. CIBC reduced their price target on Tourmaline Oil from C$80.00 to C$72.50 in a research report on Thursday, April 10th. UBS Group decreased their price objective on Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. Finally, TD Securities cut their target price on Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th.

Tourmaline Oil Trading Up 2.5%

TOU stock traded up C$1.57 during midday trading on Monday, reaching C$65.26. The stock had a trading volume of 7,478,224 shares, compared to its average volume of 2,307,782. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a twelve month low of C$55.27 and a twelve month high of C$70.83. The firm has a market cap of C$24.32 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.72 and a beta of 1.30. The business has a fifty day simple moving average of C$63.68 and a two-hundred day simple moving average of C$65.05.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.50 dividend. 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 3.06%. This is an increase from Tourmaline Oil's previous quarterly dividend of $0.35. Tourmaline Oil's payout ratio is currently 31.61%.

Insider Activity at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 2,500 shares of the business's stock in a transaction on Friday, March 7th. The stock was purchased at an average price of C$63.30 per share, for a total transaction of C$158,252.50. Over the last ninety days, insiders purchased 15,000 shares of company stock valued at $947,880. Insiders own 5.13% of the company's stock.

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.