Tourmaline Oil (TSE:TOU) Sets New 12-Month High – Time to Buy?

Tourmaline Oil Corp. (TSE:TOU)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$69.50 and last traded at C$69.29, with a volume of 874083 shares traded. The stock had previously closed at C$66.79.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Securities reduced their price target on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Jefferies Financial Group raised their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. National Bankshares upped their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. UBS Group raised their price target on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research report on Monday, December 9th. Finally, Canaccord Genuity Group lowered their price objective on Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tourmaline Oil has an average rating of “Moderate Buy” and an average price target of C$78.42.

Tourmaline Oil Stock Up 0.7 %

The company has a fifty day moving average price of C$64.41 and a 200-day moving average price of C$62.48. The stock has a market capitalization of C$25.51 billion, a P/E ratio of 16.28, a PEG ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The firm had revenue of C$1.47 billion for the quarter, compared to analysts’ expectations of C$1.63 billion. As a group, research analysts forecast that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 16th. This represents a $1.40 annualized dividend and a dividend yield of 2.04%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. Tourmaline Oil’s payout ratio is currently 33.18%.

Insider Activity at Tourmaline Oil

In other news, Senior Officer Mike Rose acquired 2,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was acquired at an average price of C$62.27 per share, with a total value of C$155,664.50. In the last 90 days, insiders have purchased 12,500 shares of company stock worth $797,388. Company insiders own 5.13% of the company’s stock.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.