Tourmaline Oil Corp. (TSE:TOU) Given Average Rating of “Buy” by Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have received an average rating of “Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$79.04.

TOU has been the subject of a number of research analyst reports. National Bankshares upped their price objective on shares of Tourmaline Oil from C$70.00 to C$72.50 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. UBS Group upgraded shares of Tourmaline Oil to a “hold” rating in a report on Thursday, June 20th. Canaccord Genuity Group raised their price objective on Tourmaline Oil from C$73.50 to C$75.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Scotiabank increased their target price on Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Finally, Desjardins lifted their price target on Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th.

Insider Buying and Selling at Tourmaline Oil

In other news, Senior Officer Mike Rose bought 2,500 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of C$59.54 per share, with a total value of C$148,849.50. In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of C$59.54 per share, for a total transaction of C$148,849.50. Also, Director Jill Terilee Angevine bought 3,000 shares of the stock in a transaction on Friday, August 16th. The stock was acquired at an average price of C$63.17 per share, with a total value of C$189,510.00. In the last 90 days, insiders bought 29,300 shares of company stock valued at $1,814,024. 5.40% of the stock is currently owned by company insiders.

Tourmaline Oil Stock Down 3.7 %

Shares of TSE TOU opened at C$59.15 on Wednesday. The company has a market cap of C$20.85 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.72 and a beta of 1.32. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The stock has a 50-day moving average price of C$60.97 and a two-hundred day moving average price of C$62.93.

Tourmaline Oil Cuts Dividend

The business also recently announced a None dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 27th will be issued a $0.50 dividend. This represents a yield of 2.26%. The ex-dividend date is Friday, September 13th. Tourmaline Oil’s payout ratio is presently 31.28%.

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.