Analysts Set Tourmaline Oil Corp. (TSE:TOU) Price Target at C$76.72

Shares of Tourmaline Oil Corp. (TSE:TOU) have received an average rating of “Moderate Buy” from the seven brokerages that are covering the company, 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 1-year price objective among analysts that have updated their coverage on the stock in the last year is C$76.72.

A number of equities research analysts recently issued reports on TOU shares. Raymond James set a C$78.00 price objective on Tourmaline Oil and gave the stock an “outperform” rating in a research report on Tuesday, April 8th. Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. Desjardins increased their price objective on Tourmaline Oil from C$74.00 to C$76.00 and gave the stock a “hold” rating in a research report on Tuesday, April 15th. CIBC lowered their price objective on Tourmaline Oil from C$80.00 to C$72.50 in a research report on Thursday, April 10th. Finally, UBS Group lowered their price objective on Tourmaline Oil from C$74.00 to C$71.00 in a research report on Thursday, April 17th.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Friday, May 9th. The shares were purchased at an average cost of C$62.82 per share, with a total value of C$314,097.50. Also, Senior Officer William Scott Kirker sold 56,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of C$64.94, for a total value of C$3,636,561.60. Insiders have bought 22,500 shares of company stock worth $1,421,621 over the last 90 days. Corporate insiders own 5.13% of the company’s stock.

Tourmaline Oil Trading Down 0.8%

Shares of TOU stock opened at C$63.81 on Friday. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. Tourmaline Oil has a 52-week low of C$55.27 and a 52-week high of C$70.83. The company has a market capitalization of C$23.78 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The business’s fifty day moving average is C$62.21 and its 200 day moving average is C$64.97.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.13%. Tourmaline Oil’s payout ratio is 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.