Tourmaline Oil (TSE:TOU) Downgraded to Hold Rating by Desjardins

Desjardins lowered shares of Tourmaline Oil (TSE:TOU) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning,BayStreet.CA reports. Desjardins currently has C$74.00 price objective on the stock, down from their prior price objective of C$80.00.

A number of other analysts also recently issued reports on the stock. CIBC raised their price target on shares of Tourmaline Oil from C$75.00 to C$80.00 in a report on Friday, January 17th. Cormark upgraded Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. Jefferies Financial Group increased their price target on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. UBS Group boosted their price objective on shares of Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. Finally, National Bankshares upped their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$78.36.

Tourmaline Oil Trading Up 1.3 %

Shares of TOU stock opened at C$66.97 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a twelve month low of C$55.27 and a twelve month high of C$70.83. The company’s 50-day moving average price is C$67.12 and its 200-day moving average price is C$64.56. The stock has a market cap of C$24.96 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.72 and a beta of 1.30.

Tourmaline Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, March 14th. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. Tourmaline Oil’s dividend payout ratio (DPR) is presently 31.61%.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of C$64.25 per share, for a total transaction of C$160,612.50. Also, Director Jill Terilee Angevine purchased 1,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, January 31st. The stock was acquired at an average price of C$66.63 per share, with a total value of C$66,630.00. Over the last ninety days, insiders purchased 16,000 shares of company stock valued at $1,054,314. 5.13% of the stock is currently owned by corporate 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.