Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Price Target at C$77.95

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) has earned an average recommendation of "Moderate Buy" from the nine analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is C$77.05.

Several research analysts recently commented on TOU shares. Desjardins increased their target price on shares of Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a "hold" rating in a report on Tuesday, April 15th. UBS Group decreased their price objective on Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday. CIBC reduced their price target on Tourmaline Oil from C$80.00 to C$72.50 in a research report on Thursday, April 10th. Raymond James set a C$78.00 price target on Tourmaline Oil and gave the stock an "outperform" rating in a research report on Tuesday, April 8th. Finally, Cormark raised shares of Tourmaline Oil from a "hold" rating to a "moderate buy" rating in a research note on Friday, March 7th.

Insider Activity at Tourmaline Oil

In other news, Senior Officer Mike Rose acquired 2,500 shares of the firm's stock in a transaction on Monday, January 27th. The shares were purchased at an average cost of C$67.43 per share, with a total value of C$168,575.00. Also, Director Jill Terilee Angevine bought 1,000 shares of the company's stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of C$66.63 per share, with a total value of C$66,630.00. In the last 90 days, insiders have purchased 11,000 shares of company stock worth $717,260. Insiders own 5.13% of the company's stock.

Tourmaline Oil Stock Down 1.5 %

TSE TOU traded down C$0.96 during trading on Thursday, hitting C$61.63. The stock had a trading volume of 735,186 shares, compared to its average volume of 2,379,363. Tourmaline Oil has a 12 month low of C$55.27 and a 12 month high of C$70.83. 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 company's 50-day moving average price is C$65.22 and its two-hundred day moving average price is C$65.22. The company has a market capitalization of C$22.97 billion, a PE ratio of 13.91, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.50 per share. This is an increase from Tourmaline Oil's previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. This represents a $2.00 annualized dividend and a dividend yield of 3.25%. Tourmaline Oil's payout ratio is presently 31.61%.

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.