Tourmaline Oil Corp. (TSE:TOU) Receives C$78.21 Average Price Target from Brokerages

Tourmaline Oil Corp. (TSE:TOU) has been given a consensus rating of “Buy” by the twelve ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$79.04.

A number of equities analysts have commented on the stock. UBS Group raised shares of Tourmaline Oil to a “hold” rating in a research note on Thursday, June 20th. National Bankshares boosted their price target on shares of Tourmaline Oil from C$70.00 to C$72.50 and gave the stock an “outperform” rating in a research note on Tuesday. Canaccord Genuity Group boosted their price target on shares of Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank boosted their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, CIBC boosted their price target on shares of Tourmaline Oil from C$77.50 to C$80.00 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd.

Insider Activity at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was bought at an average cost of C$66.10 per share, for a total transaction of C$165,250.00. Insiders bought 15,000 shares of company stock worth $948,485 in the last three months. 5.41% of the stock is owned by insiders.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$62.21 on Friday. The company has a 50 day moving average of C$61.65 and a 200 day moving average of C$62.40. The stock has a market cap of C$21.88 billion, a P/E ratio of 12.47, a P/E/G ratio of 1.72 and a beta of 1.39. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The company has a current ratio of 0.89, a quick ratio of 0.47 and a debt-to-equity ratio of 9.61.

Tourmaline Oil Cuts Dividend

The company also recently declared a None dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, September 13th. Tourmaline Oil’s dividend payout ratio is currently 25.65%.

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.