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

Key Points

• Tourmaline Oil Corp. has received a "Moderate Buy" rating from six analysts, with an average 1-year target price of C$74.00.
• The company recently increased its quarterly dividend from $0.35 to $0.50 per share, resulting in a dividend yield of 3.2%.
• Insider activities include significant share purchases, with insider Mike Rose acquiring 5,000 shares at an average cost of C$61.19.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is C$74.00.

TOU has been the subject of a number of analyst reports. TD Securities lowered Tourmaline Oil from a "buy" rating to a "hold" rating and reduced their price objective for the company from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. Raymond James Financial downgraded shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and reduced their price target for the company from C$76.00 to C$74.00 in a report on Thursday, July 31st. ATB Capital boosted their price target on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. CIBC reduced their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating for the company in a report on Thursday, July 31st. Finally, Royal Bank Of Canada reduced their target price on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research note on Friday, August 1st.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$62.06 on Thursday. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The business has a 50 day moving average of C$59.32 and a two-hundred day moving average of C$62.06. Tourmaline Oil has a 52 week low of C$55.40 and a 52 week high of C$70.83. The company has a market cap of C$24.01 billion, a P/E ratio of 15.44, a PEG ratio of 1.72 and a beta of 0.35.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were given a dividend of $0.50 per share. This is a boost from Tourmaline Oil's previous quarterly dividend of $0.35. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, September 15th. Tourmaline Oil's payout ratio is presently 42.29%.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, insider Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Friday, September 19th. The stock was acquired at an average cost of C$61.19 per share, for a total transaction of C$305,928.00. Following the completion of the transaction, the insider owned 8,162,742 shares in the company, valued at approximately C$499,442,266.92. This represents a 0.06% increase in their position. Also, Director Christopher Lee purchased 17,000 shares of Tourmaline Oil stock in a transaction on Wednesday, August 27th. The shares were acquired at an average price of C$58.30 per share, with a total value of C$991,045.60. Following the transaction, the director directly owned 17,000 shares in the company, valued at C$991,045.60. This trade represents a ∞ increase in their position. Over the last quarter, insiders have bought 27,305 shares of company stock valued at $1,606,356. Insiders own 5.13% of the company's stock.

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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