Tourmaline Oil Corp. (TSE:TOU) Receives C$76.72 Consensus PT from Brokerages

Shares of Tourmaline Oil Corp. (TSE:TOU) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$76.72.

Several equities analysts have recently issued reports on TOU shares. Desjardins upped their target price on Tourmaline Oil from C$74.00 to C$76.00 and gave the company a “hold” rating in a report on Tuesday, April 15th. Cormark raised Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a report on Friday, March 7th. Raymond James set a C$78.00 target price on Tourmaline Oil and gave the company an “outperform” rating in a report on Tuesday, April 8th. UBS Group reduced their target price on Tourmaline Oil from C$74.00 to C$71.00 in a report on Thursday, April 17th. Finally, CIBC reduced their target price on Tourmaline Oil from C$80.00 to C$72.50 in a report on Thursday, April 10th.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was 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 on Wednesday, May 14th. The stock was sold at an average price of C$64.94, for a total value of C$3,636,561.60. Over the last ninety days, insiders bought 22,500 shares of company stock valued at $1,421,621. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Stock Performance

TOU stock opened at C$63.81 on Friday. The firm has a market cap of C$23.78 billion, a PE ratio of 14.41, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The business has a 50 day moving average of C$62.21 and a 200-day moving average of C$64.97. Tourmaline Oil has a 12-month low of C$55.27 and a 12-month high of C$70.83.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.13%. The ex-dividend date is Monday, June 16th. Tourmaline Oil’s dividend payout ratio (DPR) is 31.61%.

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.