Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Price Target at C$71.56

Shares of Tourmaline Oil Corp. (TSE:TOU) have received a consensus rating of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is C$71.56.

TOU has been the subject of several research reports. Scotiabank cut their price objective on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. Capital One Financial raised Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. Raymond James Financial reduced their price target on Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. Jefferies Financial Group decreased their price objective on Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Finally, Desjardins increased their price objective on Tourmaline Oil from C$68.00 to C$70.00 and gave the stock a “buy” rating in a research report on Monday, January 26th.

Tourmaline Oil Price Performance

Shares of TOU opened at C$61.45 on Wednesday. The company’s 50-day moving average is C$61.22 and its 200-day moving average is C$60.74. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The firm has a market capitalization of C$23.78 billion, a PE ratio of 17.56, a PEG ratio of 1.72 and a beta of 0.12. Tourmaline Oil has a fifty-two week low of C$55.40 and a fifty-two week high of C$70.83.

Tourmaline Oil Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, December 15th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 52.86%.

Insiders Place Their Bets

In other Tourmaline Oil news, insider Mike Rose bought 10,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were purchased at an average price of C$62.21 per share, for a total transaction of C$622,100.00. Following the transaction, the insider directly owned 8,042,678 shares in the company, valued at approximately C$500,334,998.38. This trade represents a 0.12% increase in their position. 5.13% of the stock is owned by company insiders.

About Tourmaline Oil

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.