Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Target Price at C$79.04

Tourmaline Oil Corp. (TSE:TOU) has received an average rating of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is C$79.04.

Several research firms have issued reports on TOU. Scotiabank increased their price objective on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Canaccord Genuity Group raised their price target on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. UBS Group upgraded Tourmaline Oil to a “hold” rating in a report on Thursday, June 20th. Desjardins increased their target price on Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, National Bankshares boosted their price target on Tourmaline Oil from C$70.00 to C$72.50 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th.

Tourmaline Oil Trading Down 1.1 %

Shares of TSE:TOU opened at C$58.16 on Wednesday. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$74.21. The firm has a market capitalization of C$20.50 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 1.72 and a beta of 1.32. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The business’s 50 day moving average price is C$60.67 and its 200-day moving average price is C$62.99.

Tourmaline Oil Cuts Dividend

The company also recently declared a None dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 27th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 13th. This represents a dividend yield of 2.26%. Tourmaline Oil’s payout ratio is 31.28%.

Insider Activity at Tourmaline Oil

In other news, Director Jill Terilee Angevine bought 1,300 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. In other Tourmaline Oil news, Senior Officer Mike Rose acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of C$60.56 per share, with a total value of C$302,778.50. Also, Director Jill Terilee Angevine bought 1,300 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. Over the last quarter, insiders bought 31,800 shares of company stock valued at $1,934,143. 5.40% of the stock is owned by company insiders.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.