Brokerages Set Tourmaline Oil Corp. (TSE:TOU) PT at C$76.72

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$76.72.

Several research firms recently issued reports on TOU. CIBC cut their price target on shares of Tourmaline Oil from C$80.00 to C$72.50 in a report on Thursday, April 10th. Cormark upgraded shares of Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research note on Friday, March 7th. TD Securities decreased their price target 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. Desjardins upped 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. Finally, Raymond James Financial set a C$78.00 target price on Tourmaline Oil and gave the stock an "outperform" rating in a report on Tuesday, April 8th.

Tourmaline Oil Stock Down 0.4%

Shares of TSE TOU traded down C$0.24 during midday trading on Tuesday, reaching C$63.35. 1,789,795 shares of the company's stock were exchanged, compared to its average volume of 2,235,582. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. Tourmaline Oil has a 52-week low of C$55.27 and a 52-week high of C$70.83. The business's fifty day moving average price is C$64.00 and its two-hundred day moving average price is C$65.14. The stock has a market capitalization of C$23.61 billion, a PE ratio of 14.30, 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. Shareholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Monday, June 16th. Tourmaline Oil's dividend payout ratio is presently 31.61%.

Insiders Place Their Bets

In other news, Senior Officer William Scott Kirker sold 56,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. Also, Senior Officer Mike Rose acquired 5,000 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The stock was purchased at an average cost of C$63.79 per share, for a total transaction of C$318,960.00. Insiders acquired 35,000 shares of company stock worth $2,232,931 over the last quarter. 5.13% of the stock is currently owned by company 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.