Analysts Set Tourmaline Oil Corp. (TSE:TOU) Target Price at C$78.20

Shares of Tourmaline Oil Corp. (TSE:TOU) have received a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is C$78.20.

Several research firms have commented on TOU. Cormark upgraded shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. UBS Group boosted their price objective on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. National Bankshares increased their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Jefferies Financial Group increased their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Finally, CIBC lifted their price target on Tourmaline Oil from C$75.00 to C$80.00 in a research note on Friday, January 17th.

Tourmaline Oil Stock Performance

Shares of TOU opened at C$68.70 on Friday. The company has a market cap of C$25.60 billion, a PE ratio of 15.51, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. Tourmaline Oil has a one year low of C$55.27 and a one year high of C$70.83. The stock has a 50-day moving average of C$67.11 and a 200-day moving average of C$64.74.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.50 per share. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, March 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.91%. Tourmaline Oil’s payout ratio is presently 31.61%.

Insider Buying and Selling

In related news, Director Jill Terilee Angevine purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of C$64.25 per share, with a total value of C$160,612.50. In the last ninety days, insiders bought 16,000 shares of company stock valued at $1,054,314. 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.