Tourmaline Oil Corp. (TSE:TOU) Receives C$74.50 Consensus PT from Analysts

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 been assigned a consensus rating of "Moderate Buy" from the seven research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is C$74.50.

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

Tourmaline Oil Stock Up 0.0%

TOU traded up C$0.01 during trading on Wednesday, reaching C$57.40. 1,617,367 shares of the stock were exchanged, compared to its average volume of 2,331,239. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The stock's 50 day moving average price is C$61.64 and its two-hundred day moving average price is C$63.57. Tourmaline Oil has a twelve month low of C$55.40 and a twelve month high of C$70.83. The stock has a market cap of C$21.39 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Cuts Dividend

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

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction dated Tuesday, August 5th. The stock was bought at an average price of C$58.36 per share, with a total value of C$291,793.00. Insiders have bought a total of 30,305 shares of company stock valued at $1,909,730 over the last three months. 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.