Tourmaline Oil Corp (TSE:TOU) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$20.13.
A number of brokerages recently issued reports on TOU. Scotiabank lowered their price target on shares of Tourmaline Oil from C$23.00 to C$21.00 in a research report on Tuesday, January 14th. TD Securities raised shares of Tourmaline Oil from a “buy” rating to an “action list buy” rating and set a C$24.00 price target for the company in a research report on Wednesday, January 8th. Royal Bank of Canada lowered their price target on shares of Tourmaline Oil from C$24.00 to C$18.00 in a research report on Friday, October 18th. Tudor Pickering & Holt set a C$16.00 price target on shares of Tourmaline Oil and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, CIBC lowered their price target on shares of Tourmaline Oil from C$25.00 to C$20.00 in a research report on Tuesday, October 15th.
Shares of TOU traded down C$0.51 during trading hours on Friday, reaching C$14.61. 1,428,500 shares of the company traded hands, compared to its average volume of 1,464,022. The company’s fifty day moving average price is C$14.58 and its two-hundred day moving average price is C$13.90. The company has a market capitalization of $3.97 billion and a price-to-earnings ratio of 8.86. The company has a quick ratio of 0.52, a current ratio of 0.60 and a debt-to-equity ratio of 22.89. Tourmaline Oil has a 12 month low of C$10.45 and a 12 month high of C$22.62.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 3.29%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 26.68%.
In other Tourmaline Oil news, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was bought at an average cost of C$11.76 per share, with a total value of C$29,404.00. Following the transaction, the insider now directly owns 10,536,830 shares in the company, valued at approximately C$123,929,979.73. Over the last three months, insiders have purchased 40,000 shares of company stock valued at $537,119.
About Tourmaline Oil
Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, NEBC Montney, and the Peace River High Triassic oil complex.
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