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

Key Points

• Tourmaline Oil Corp. has received a consensus recommendation of "Moderate Buy" from brokerages, with an average 12-month target price set at C$74.50.
• The company recently declared a quarterly dividend of $0.35 per share, yielding approximately 2.5% annually.
• Insider activity shows significant purchasing, with a senior officer acquiring 5,000 shares at an average cost of C$58.36 per share.

Shares of Tourmaline Oil Corp. (TSE:TOU - Get Free Report) have received an average recommendation of "Moderate Buy" from the seven brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is C$74.50.

A number of analysts recently issued reports on the company. ATB Capital lifted their target price on Tourmaline Oil from C$76.00 to C$77.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Raymond James Financial downgraded Tourmaline Oil from an "outperform" rating to a "market perform" rating and lowered their target price for the company from C$76.00 to C$74.00 in a research report on Thursday, July 31st. TD Securities lowered their target price on Tourmaline Oil from C$76.00 to C$73.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Royal Bank Of Canada lowered their target price on Tourmaline Oil from C$78.00 to C$75.00 in a research report on Friday, August 1st. Finally, CIBC reduced their price target on 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.

Tourmaline Oil Stock Up 0.0%

Shares of Tourmaline Oil stock traded up C$0.01 during trading on Wednesday, reaching C$57.40. The stock had a trading volume of 1,617,367 shares, compared to its average volume of 2,331,239. The company has a market capitalization of C$21.39 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 1.72 and a beta of 1.30. The stock has a fifty day moving average price of C$61.64 and a two-hundred day moving average price of C$63.53. Tourmaline Oil has a 52 week low of C$55.40 and a 52 week high of C$70.83. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13.

Tourmaline Oil Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Friday, August 8th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.4%. Tourmaline Oil's payout ratio is currently 31.61%.

Insider Buying and Selling

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Tuesday, August 5th. The stock was acquired at an average price of C$58.36 per share, for a total transaction of C$291,793.00. Insiders bought a total of 30,305 shares of company stock worth $1,909,730 in the last three months. Company 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.