Tourmaline Oil Corp. (TSE:TOU) Given Consensus Recommendation of “Buy” by Brokerages

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

A number of research analysts have recently commented on the company. Canaccord Genuity Group upped their price target on Tourmaline Oil from C$73.50 to C$75.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Scotiabank increased their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Desjardins boosted their price objective on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. National Bankshares upped their price objective on shares of Tourmaline Oil from C$70.00 to C$72.50 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Finally, UBS Group raised Tourmaline Oil to a “hold” rating in a research report on Thursday, June 20th.

Insider Buying and Selling at Tourmaline Oil

In other news, Director Jill Terilee Angevine purchased 1,300 shares of Tourmaline Oil stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. In related news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average price of C$62.88 per share, with a total value of C$314,392.00. Also, Director Jill Terilee Angevine acquired 1,300 shares of Tourmaline Oil stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. Over the last three months, insiders purchased 29,300 shares of company stock valued at $1,814,024. 5.40% of the stock is currently owned by company insiders.

Tourmaline Oil Trading Up 0.4 %

Tourmaline Oil stock opened at C$60.14 on Wednesday. The business’s 50-day simple moving average is C$60.81 and its 200-day simple moving average is C$62.99. Tourmaline Oil has a 52 week low of C$53.45 and a 52 week high of C$74.21. The firm has a market capitalization of C$21.20 billion, a PE ratio of 14.25, a PEG ratio of 1.72 and a beta of 1.32. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11.

Tourmaline Oil Cuts Dividend

The business also recently declared a None dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 27th will be given a $0.50 dividend. This represents a yield of 2.26%. The ex-dividend date is Friday, September 13th. Tourmaline Oil’s dividend payout ratio (DPR) is 31.28%.

Tourmaline Oil Company Profile

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.