Analysts Set Tourmaline Oil Corp. (TSE:TOU) Target Price at C$77.95

Shares of Tourmaline Oil Corp. (TSE:TOU) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is C$77.05.

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

Tourmaline Oil Stock Up 1.1 %

Shares of Tourmaline Oil stock opened at C$62.59 on Thursday. Tourmaline Oil has a 1-year low of C$55.27 and a 1-year high of C$70.83. The company has a market capitalization of C$23.32 billion, a P/E ratio of 14.13, a PEG ratio of 1.72 and a beta of 1.30. The business’s fifty day moving average price is C$65.35 and its two-hundred day moving average price is C$65.23. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. Tourmaline Oil’s payout ratio is presently 31.61%.

Insider Activity

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction dated Monday, January 27th. The stock was bought at an average price of C$67.43 per share, for a total transaction of C$168,575.00. Also, Director Jill Terilee Angevine bought 1,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average cost of C$66.63 per share, with a total value of C$66,630.00. Insiders purchased a total of 11,000 shares of company stock valued at $717,260 over the last three months. Insiders own 5.13% of the company’s stock.

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.