Tourmaline Oil (TSE:TOU) Earns Buy Rating from Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of Tourmaline Oil (TSE:TOU) in a research note issued to investors on Thursday, Stock Target Advisor reports.

Other research analysts also recently issued research reports about the company. National Bankshares upped their price objective on Tourmaline Oil from C$37.50 to C$40.00 and gave the company an outperform rating in a research note on Monday, June 14th. CIBC reaffirmed an outperform rating and issued a C$47.50 price objective on shares of Tourmaline Oil in a research note on Thursday, July 29th. Raymond James set a C$44.50 price objective on Tourmaline Oil and gave the company a strong-buy rating in a research note on Tuesday, August 31st. Tudor Pickering & Holt set a C$44.00 target price on shares of Tourmaline Oil and gave the company a buy rating in a research report on Friday, July 16th. Finally, Royal Bank of Canada reissued an outperform rating and set a C$44.00 target price on shares of Tourmaline Oil in a research report on Thursday, July 29th. Nine analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus target price of C$45.19.

TOU stock opened at C$41.90 on Thursday. The stock has a market capitalization of C$12.52 billion and a P/E ratio of 9.22. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 17.36. Tourmaline Oil has a 12 month low of C$15.84 and a 12 month high of C$43.10. The firm has a 50-day moving average price of C$34.39 and a 200-day moving average price of C$30.19.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 29th will be issued a dividend of $0.17 per share. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Tuesday, September 14th. Tourmaline Oil’s dividend payout ratio is presently 12.76%.

In other news, Senior Officer Mike Rose bought 5,000 shares of the stock in a transaction on Wednesday, August 4th. The shares were bought at an average price of C$33.73 per share, with a total value of C$168,664.00. Following the completion of the acquisition, the insider now owns 8,821,058 shares in the company, valued at C$297,558,985.30. In the last three months, insiders acquired 20,000 shares of company stock worth $644,873.

About Tourmaline Oil

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

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Analyst Recommendations for Tourmaline Oil (TSE:TOU)

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