Tourmaline Oil Corp. (TSE:TOU) Given Consensus Recommendation of “Moderate Buy” by Analysts

Tourmaline Oil Corp. (TSE:TOU) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is C$74.00.

A number of analysts have commented on the stock. Royal Bank Of Canada decreased 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 target price 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 reduced their target price 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. TD Securities lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$73.00 to C$68.00 in a research note on Tuesday, September 30th. Finally, Raymond James Financial lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from C$76.00 to C$74.00 in a research note on Thursday, July 31st.

Tourmaline Oil Stock Performance

Shares of TOU stock opened at C$59.67 on Thursday. The firm has a market capitalization of C$23.08 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.72 and a beta of 0.35. The firm has a fifty day simple moving average of C$59.45 and a two-hundred day simple moving average of C$61.78. 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 has a 12 month low of C$55.40 and a 12 month high of C$70.83.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 29th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, September 15th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.35. Tourmaline Oil’s dividend payout ratio (DPR) is currently 42.29%.

Insider Buying and Selling at Tourmaline Oil

In other news, insider Mike Rose bought 10,000 shares of Tourmaline Oil stock in a transaction dated Friday, October 10th. The stock was purchased at an average price of C$60.42 per share, for a total transaction of C$604,200.00. Following the purchase, the insider directly owned 8,187,742 shares in the company, valued at C$494,703,371.64. The trade was a 0.12% increase in their position. Also, Director Christopher Lee bought 17,000 shares of Tourmaline Oil stock in a transaction dated Wednesday, August 27th. The stock was purchased at an average price of C$58.30 per share, with a total value of C$991,045.60. Following the purchase, the director owned 17,000 shares in the company, valued at approximately C$991,045.60. This represents a ∞ increase in their ownership of the stock. In the last quarter, insiders bought 37,305 shares of company stock valued at $2,210,556. Company insiders own 5.13% of the company’s stock.

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.