Shares of Tourmaline Oil Corp. (TSE:TOU – Get Rating) have been assigned a consensus “Buy” rating by the eleven rating agencies that cover the company, reports Marketbeat Ratings. Six investment analysts gave the stock a buy rating and one issued a strong buy rating for the company. The 1-year average target price among brokers who updated their coverage on the stock in the last year is C$90.80.
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Several analysts have recently released reports on the stock. ATB Capital cut its price target on shares of Tourmaline Oil from CA$100.00 to CA$95.00 in a Monday, January 16 report. Barclays set a price target of C$85.00 on Tourmaline Oil shares and gave the company an “overweight” rating in a Wednesday, Jan. 18, report. Scotiabank cut its price target on shares of Tourmaline Oil from C$117.00 to C$112.00 in a Tuesday, January 17 report. National Bankshares raised its price target on shares of Tourmaline Oil from CA$85.00 to CA$100.00 and gave the company an “outperform” rating in a Thursday, Nov. 3, report. Finally, Stifel Firstegy reiterated a “buy” rating on Tourmaline Oil shares in a Thursday, January 12 research note.
Tourmaline oil is trading down 0.9%
TOU opened at C$59.86 on Tuesday. The stock has a market capitalization of C$20.23 billion and a PE ratio of 3.67. The company’s fifty-day moving average price is C$68.81 and its 200-day moving average price is C$74.08. The company has a debt ratio of 3.16, a current ratio of 1.28 and a quick ratio of 0.47. Tourmaline oil has a 12-month low of C$45.03 and a 12-month high of C$84.33.
Tourmaline Oil Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, December 30. Shareholders of record on Friday, December 30 received a dividend of $0.25 per share. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.23. The ex-dividend date was Wednesday, December 14. This represents an annualized dividend of $1.00 and a yield of 1.67%. Tourmaline Oil’s payout ratio is currently 5.10%.
Insider Trading at Tourmaline Oil
In addition, director Jill Terilee Angevine purchased 490 shares in a transaction dated Wednesday, January 25. The stock was acquired at an average price of CA$62.63 per share, for a total transaction of CA$30,688.70. Following the completion of the transaction, the director now owns 46,000 shares of the company, valued at C$2,880,980. In related news, senior officer Mike Rose purchased 5,000 shares of the company in a trade that took place on Wednesday, November 9. The shares were purchased at an average price of CA$77.43 per share, for a total transaction of CA$387,158.00. As a result of the transaction, the insider now directly owns 8,864,974 shares of the company, valued at approximately C$686,429,120.78. Additionally, director Jill Terilee Angevine purchased 490 shares of the company in a transaction that took place on Wednesday, January 25. The stock was purchased at an average price of CA$62.63 per share, with a total value of CA$30,688.70. Following the transaction, the administrator now directly owns 46,000 shares of the company, valued at C$2,880,980. During the last quarter, insiders purchased 31,620 shares of the company worth $2,144,217.
Tourmaline Oil Company Profile
(Get a rating)
Tourmaline Oil Corp. acquires, explores, develops and produces oil and gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, in northeastern British Columbia at Montney and in the Peace River High Triassic Oil Complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.
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