Tourmaline Oil (TSE:TOU) Rating Lowered to Hold at TD Securities

TD Securities cut shares of Tourmaline Oil (TSE:TOU) from a buy rating to a hold rating in a report issued on Tuesday, MarketBeat reports. They currently have C$68.00 price target on the stock, down from their previous price target of C$73.00.

Several other analysts also recently issued reports on the stock. Raymond James Financial downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and cut their target price for the company from C$76.00 to C$74.00 in a research note on Thursday, July 31st. Royal Bank Of Canada decreased their price objective on shares of Tourmaline Oil from C$78.00 to C$75.00 in a report on Friday, August 1st. ATB Capital upped their price target on Tourmaline Oil from C$76.00 to C$77.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, CIBC cut their price target on Tourmaline Oil from C$75.00 to C$74.00 and set an “outperform” rating for the company in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Tourmaline Oil presently has a consensus rating of “Moderate Buy” and an average price target of C$74.00.

Tourmaline Oil Stock Down 1.6%

Shares of TOU stock opened at C$60.28 on Tuesday. 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 business’s fifty day moving average is C$59.38 and its 200-day moving average is C$62.22. Tourmaline Oil has a 1 year low of C$55.40 and a 1 year high of C$70.83. The stock has a market cap of C$23.32 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.72 and a beta of 0.40.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, September 15th. Tourmaline Oil’s payout ratio is presently 42.29%.

Insider Activity

In related news, Director Christopher Lee bought 17,000 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was bought at an average cost of C$58.30 per share, for a total transaction of C$991,045.60. Following the transaction, the director owned 17,000 shares of the company’s stock, valued at C$991,045.60. This represents a ∞ increase in their ownership of the stock. Also, insider Mike Rose purchased 5,000 shares of Tourmaline Oil stock in a transaction dated Friday, September 19th. The shares were purchased at an average cost of C$61.19 per share, for a total transaction of C$305,928.00. Following the completion of the transaction, the insider owned 8,162,742 shares of the company’s stock, valued at approximately C$499,442,266.92. This represents a 0.06% increase in their ownership of the stock. Insiders acquired 32,305 shares of company stock worth $1,920,957 in the last three months. 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.