Tourmaline Oil Corp. (TSE:TOU) Director Buys C$17,589.35 in 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 acquired 305 shares of Tourmaline Oil stock in a transaction that occurred on Friday, August 1st. The stock was acquired at an average price of C$57.67 per share, with a total value of C$17,589.35.

Tourmaline Oil Trading Down 0.3%

Shares of TSE:TOU traded down C$0.16 during trading on Friday, reaching C$57.71. 2,643,949 shares of the company were exchanged, compared to its average volume of 2,275,649. The firm has a market capitalization of C$21.51 billion, a PE ratio of 13.03, a P/E/G 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 Corp. has a 12-month low of C$55.40 and a 12-month high of C$70.83. The business's fifty day simple moving average is C$63.09 and its 200-day simple moving average is C$64.34.

Tourmaline Oil Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 8th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.4%. Tourmaline Oil's dividend payout ratio (DPR) is presently 31.61%.

Wall Street Analyst Weigh In

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

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.