Tourmaline Oil Corp. (TSE:TOU) Receives C$71.56 Average Price Target from Brokerages

Shares of Tourmaline Oil Corp. (TSE:TOU) have received a consensus recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is C$71.56.

Several equities research analysts have recently weighed in on TOU shares. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 27th. Canadian Imperial Bank of Commerce decreased their price target on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Scotiabank cut their price objective on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. Raymond James Financial decreased their target price on Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th. Finally, Jefferies Financial Group lowered their price target on Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th.

Tourmaline Oil Price Performance

TOU stock opened at C$61.80 on Wednesday. The stock’s 50 day moving average is C$61.33 and its two-hundred day moving average is C$60.69. Tourmaline Oil has a 52-week low of C$55.40 and a 52-week high of C$70.83. The company has a market capitalization of C$23.92 billion, a PE ratio of 17.66, a P/E/G ratio of 1.72 and a beta of 0.12. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, December 15th. Tourmaline Oil’s dividend payout ratio is 52.86%.

Insider Activity

In other Tourmaline Oil news, insider Mike Rose acquired 10,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average price of C$62.21 per share, with a total value of C$622,100.00. Following the transaction, the insider directly owned 8,042,678 shares in the company, valued at approximately C$500,334,998.38. This represents a 0.12% increase in their ownership of the stock. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.