Desjardins Downgrades Tourmaline Oil (TSE:TOU) to Hold

Desjardins lowered shares of Tourmaline Oil (TSE:TOU) from a buy rating to a hold rating in a report published on Wednesday morning,BayStreet.CA reports. Desjardins currently has C$74.00 target price on the stock, down from their prior target price of C$80.00.

TOU has been the subject of several other reports. UBS Group increased their price target on shares of Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. Jefferies Financial Group increased their target price on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. National Bankshares raised their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, CIBC boosted their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$78.36.

Tourmaline Oil Stock Performance

Shares of TOU opened at C$66.97 on Wednesday. Tourmaline Oil has a 1 year low of C$55.27 and a 1 year high of C$70.83. The stock has a market capitalization of C$24.96 billion, a P/E ratio of 15.12, 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 quick ratio of 0.47 and a current ratio of 1.01. The company’s fifty day moving average is C$67.12 and its two-hundred day moving average is C$64.56.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.50 per share. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.35. This represents a $2.00 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, March 14th. Tourmaline Oil’s dividend payout ratio (DPR) is 31.61%.

Insider Buying and Selling at Tourmaline Oil

In related news, Senior Officer Mike Rose acquired 2,500 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was purchased at an average price of C$66.44 per share, for a total transaction of C$166,109.00. Also, Director Jill Terilee Angevine bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of C$66.63 per share, with a total value of C$66,630.00. Insiders have acquired 16,000 shares of company stock valued at $1,054,314 over the last quarter. Corporate insiders own 5.13% of the company’s stock.

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.