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

Shares of Tourmaline Oil Corp. (TSE:TOU - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$76.72.

TOU has been the topic of several research analyst reports. Raymond James set a C$78.00 target price on shares of Tourmaline Oil and gave the stock an "outperform" rating in a research report on Tuesday, April 8th. Desjardins raised 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. TD Securities reduced their price objective on Tourmaline Oil from C$77.00 to C$75.00 and set a "buy" rating for the company in a report on Thursday, May 8th. UBS Group lowered their target price on Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday, April 17th. Finally, Cormark upgraded Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research report on Friday, March 7th.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose acquired 5,000 shares of the stock in a transaction dated Friday, May 30th. The stock was acquired at an average price of C$62.76 per share, with a total value of C$313,824.50. Also, Senior Officer William Scott Kirker sold 56,000 shares of the company's stock in a transaction on 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 purchased a total of 22,500 shares of company stock valued at $1,421,621 over the last quarter. Insiders own 5.13% of the company's stock.

Tourmaline Oil Stock Up 0.5%

Tourmaline Oil stock opened at C$63.25 on Friday. The stock's 50 day moving average price is C$62.56 and its 200 day moving average price is C$65.02. Tourmaline Oil has a 1-year low of C$55.27 and a 1-year high of C$70.83. The company has a market cap of C$23.57 billion, a PE ratio of 14.28, a price-to-earnings-growth 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $0.50 dividend. This is an increase from Tourmaline Oil's previous quarterly dividend of $0.35. This represents a $2.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, March 14th. Tourmaline Oil's dividend payout ratio 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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