Travis Toews Buys 305 Shares of Tourmaline Oil Corp. (TSE:TOU) Stock

Key Points

• Travis Toews, a director at Tourmaline Oil Corp., purchased 305 shares of the company's stock at an average price of C$57.67 per share, totaling C$17,589.35.
• Tourmaline Oil recently announced a quarterly dividend of $0.35 per share, representing a 2.4% dividend yield and a payout ratio of 31.61%.
• Analysts have adjusted price targets for Tourmaline Oil, with Royal Bank of Canada lowering its target from C$78.00 to C$75.00, while ATB Capital raised its target from C$76.00 to C$77.00.

Tourmaline Oil Corp. (TSE:TOU - Get Free Report) Director Travis Toews purchased 305 shares of the business's stock in a transaction dated Friday, August 1st. The shares were bought at an average price of C$57.67 per share, with a total value of C$17,589.35.

Tourmaline Oil Price Performance

Shares of TOU stock traded down C$0.25 during mid-day trading on Friday, reaching C$57.97. The stock had a trading volume of 5,703,979 shares, compared to its average volume of 2,296,107. Tourmaline Oil Corp. has a 12-month low of C$55.40 and a 12-month high of C$70.83. The company has a market cap of C$21.60 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The business has a 50-day simple moving average of C$63.00 and a 200 day simple moving average of C$64.23. 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 8th will be given 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 dividend payout ratio is presently 31.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TOU shares. Royal Bank Of Canada lowered their price target on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research note on Friday, August 1st. ATB Capital upped their price target on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. CIBC lowered their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 and set an "outperform" rating on the stock in a research note on Thursday, July 31st. Raymond James Financial cut shares of Tourmaline Oil from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from C$76.00 to C$74.00 in a research note on Thursday, July 31st. Finally, UBS Group lowered their price target on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$76.18.

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.