Brokerages Set Tourmaline Oil Corp. (TSE:TOU) PT at C$77.95

Shares of Tourmaline Oil Corp. (TSE:TOU) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$77.05.

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

Tourmaline Oil Stock Performance

TSE:TOU opened at C$62.59 on Thursday. The company has a market cap of C$23.32 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.72 and a beta of 1.30. The firm’s 50 day moving average is C$65.35 and its two-hundred day moving average is C$65.23. Tourmaline Oil has a fifty-two week low of C$55.27 and a fifty-two week high of C$70.83. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13.

Tourmaline Oil Increases Dividend

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

Insider Activity

In related news, Director Jill Terilee Angevine bought 1,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was bought at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction dated Monday, January 27th. The shares were bought at an average cost of C$67.43 per share, with a total value of C$168,575.00. In the last 90 days, insiders have purchased 11,000 shares of company stock worth $717,260. 5.13% of the stock is currently owned by corporate insiders.

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.