Shares of Tourmaline Oil Corp. (TSE:TOU – Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$64.96 and traded as high as C$67.03. Tourmaline Oil shares last traded at C$66.63, with a volume of 6,048,528 shares traded.
Analyst Upgrades and Downgrades
TOU has been the subject of a number of recent research reports. UBS Group decreased their price target on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research note on Thursday, April 17th. CIBC cut their target price on Tourmaline Oil from C$80.00 to C$72.50 in a research report on Thursday, April 10th. Desjardins increased their price target 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. TD Securities lowered their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Finally, Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$76.72.
Check Out Our Latest Report on Tourmaline Oil
Tourmaline Oil Price Performance
Tourmaline Oil Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.00%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 31.61%.
Insider Activity
In other news, Senior Officer William Scott Kirker sold 56,000 shares of Tourmaline Oil stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of C$64.94, for a total transaction of C$3,636,561.60. Also, Senior Officer Mike Rose acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of C$62.82 per share, for a total transaction of C$314,097.50. Insiders purchased 25,000 shares of company stock worth $1,590,592 in the last 90 days. 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.
Featured Articles
- Five stocks we like better than Tourmaline Oil
- What is the MACD Indicator and How to Use it in Your Trading
- IBM Up 10 Days in a Row: What’s Driving the Winning Streak?
- Canadian Penny Stocks: Can They Make You Rich?
- Upstart Stock’s Bull Case Just Got a Lot Stronger
- What Investors Need to Know to Beat the Market
- Higher Gulf Oil Output Puts These Energy Names in Play
Receive News & Ratings for Tourmaline Oil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tourmaline Oil and related companies with MarketBeat.com's FREE daily email newsletter.