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

Shares of Tourmaline Oil Corp. (TSE:TOU - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is C$76.72.

TOU has been the topic of a number of analyst reports. CIBC lowered their price target on Tourmaline Oil from C$80.00 to C$72.50 in a research report on Thursday, April 10th. TD Securities reduced their price objective 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. Cormark raised Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research note on Friday, March 7th. UBS Group reduced their price objective on Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. Finally, Desjardins boosted their price objective on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a research note on Tuesday, April 15th.

Insider Activity

In other news, Senior Officer Mike Rose purchased 2,500 shares of the business's stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of C$64.25 per share, with a total value of C$160,612.50. Also, Senior Officer William Scott Kirker sold 56,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total value of C$3,636,561.60. Insiders have bought 22,500 shares of company stock valued at $1,421,621 over the last 90 days. 5.13% of the stock is owned by company insiders.

Tourmaline Oil Stock Performance

Shares of TOU traded up C$0.33 on Friday, reaching C$64.30. 3,062,470 shares of the stock traded hands, compared to its average volume of 2,266,449. The firm has a market cap of C$23.96 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. Tourmaline Oil has a 12 month low of C$55.27 and a 12 month high of C$70.83. The stock's 50-day moving average price is C$62.30 and its 200-day moving average price is C$64.98.

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, June 16th. Tourmaline Oil's dividend payout ratio (DPR) is presently 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.