Tourmaline Oil Corp. (TSE:TOU) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Tourmaline Oil Corp. (TSE:TOU) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is C$74.10.

Several equities analysts have recently commented on the company. TD Securities cut Tourmaline Oil from a “buy” rating to a “hold” rating and reduced their target price for the company from C$73.00 to C$68.00 in a research note on Tuesday, September 30th. CIBC dropped their price target on shares of Tourmaline Oil from C$74.00 to C$71.00 in a research note on Wednesday, October 15th. ATB Capital increased their price objective on shares of Tourmaline Oil from C$76.00 to C$77.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Capital One Financial raised shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. Finally, The Goldman Sachs Group raised shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 13th.

Tourmaline Oil Trading Up 0.2%

Shares of TOU opened at C$60.09 on Monday. Tourmaline Oil has a one year low of C$55.40 and a one year high of C$70.83. The stock has a 50-day moving average price of C$60.61 and a 200 day moving average price of C$61.60. 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 has a market capitalization of C$23.26 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.72 and a beta of 0.29.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 29th were issued a $0.50 dividend. 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 3.3%. The ex-dividend date of this dividend was Monday, September 15th. Tourmaline Oil’s dividend payout ratio is presently 52.86%.

Insider Activity at Tourmaline Oil

In other news, insider Mike Rose acquired 10,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were purchased at an average price of C$59.83 per share, for a total transaction of C$598,300.00. Following the completion of the purchase, the insider directly owned 8,197,742 shares of the company’s stock, valued at C$490,470,903.86. This represents a 0.12% increase in their position. Also, Director Christopher Lee bought 17,000 shares of Tourmaline Oil stock in a transaction on Wednesday, August 27th. The shares were purchased at an average cost of C$58.30 per share, for a total transaction of C$991,045.60. Following the acquisition, the director owned 17,000 shares in the company, valued at C$991,045.60. The trade was a ∞ increase in their ownership of the stock. Insiders have acquired 42,000 shares of company stock worth $2,499,474 in the last 90 days. 5.13% of the stock is currently owned by 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.