Tourmaline Oil (TSE:TOU) Reaches New 52-Week High – Time to Buy?

Tourmaline Oil Corp. (TSE:TOU)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as C$70.83 and last traded at C$70.00, with a volume of 1082937 shares trading hands. The stock had previously closed at C$69.30.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TOU. CIBC lifted their price target on Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. Jefferies Financial Group raised their price target on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. National Bankshares increased their price objective on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, UBS Group boosted their target price on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$78.45.

Tourmaline Oil Stock Performance

The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The firm has a market capitalization of C$25.98 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.72 and a beta of 1.30. The stock’s 50-day moving average is C$66.61 and its 200-day moving average is C$63.83.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.01%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, December 16th. Tourmaline Oil’s dividend payout ratio is presently 31.61%.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of C$62.09 per share, for a total transaction of C$155,216.50. Also, Director Jill Terilee Angevine bought 1,000 shares of Tourmaline Oil stock in a transaction on Friday, January 31st. The shares were acquired at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. Insiders have bought a total of 16,000 shares of company stock valued at $1,047,918 in the last 90 days. 5.13% of the stock is owned by corporate insiders.

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.