Tourmaline Oil (TSE:TOU) had its price objective upped by National Bankshares from C$40.00 to C$45.00 in a report released on Thursday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.
TOU has been the topic of a number of other reports. Royal Bank of Canada lifted their price target on Tourmaline Oil from C$44.00 to C$46.00 and gave the company an outperform rating in a research note on Thursday. TD Securities raised their price objective on Tourmaline Oil from C$47.00 to C$48.00 and gave the stock a buy rating in a research report on Friday, July 16th. Tudor Pickering restated a buy rating and set a C$44.00 price objective on shares of Tourmaline Oil in a research report on Friday, July 16th. CIBC restated an outperform rating and set a C$55.00 price objective (up from C$47.50) on shares of Tourmaline Oil in a research report on Thursday. Finally, Stifel Firstegy restated a buy rating on shares of Tourmaline Oil in a research report on Tuesday, September 21st. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of Buy and an average price target of C$50.46.
Shares of TOU stock opened at C$43.83 on Thursday. The business’s 50-day moving average price is C$35.15 and its 200-day moving average price is C$30.85. Tourmaline Oil has a 12 month low of C$15.84 and a 12 month high of C$44.13. The firm has a market capitalization of C$13.10 billion and a price-to-earnings ratio of 9.64. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 17.36.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, September 29th will be issued a $0.17 dividend. 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 yield of 1.55%. The ex-dividend date is Tuesday, September 14th. Tourmaline Oil’s payout ratio is presently 12.76%.
In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction on Monday, June 28th. The stock was acquired at an average cost of C$32.86 per share, for a total transaction of C$82,142.00. Following the completion of the acquisition, the insider now owns 8,816,058 shares in the company, valued at approximately C$289,667,454.49. Over the last quarter, insiders acquired 20,000 shares of company stock valued at $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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