Tourmaline Oil (TSE:TOU) Sets New 52-Week High – Here’s Why

Tourmaline Oil Corp. (TSE:TOU)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$70.83 and last traded at C$70.00, with a volume of 1082937 shares. The stock had previously closed at C$69.30.

Wall Street Analyst Weigh In

TOU has been the topic of several research analyst reports. CIBC increased their price objective on Tourmaline Oil from C$75.00 to C$80.00 in a research note on Friday, January 17th. Jefferies Financial Group increased their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. UBS Group increased their price objective on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. Finally, National Bankshares increased their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Tourmaline Oil currently has an average rating of “Moderate Buy” and an average target price of C$78.45.

Tourmaline Oil Price Performance

The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The stock has a market cap of C$25.98 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.72 and a beta of 1.30. The stock has a 50-day moving average price of C$66.74 and a two-hundred day moving average price of C$63.92.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a $0.35 dividend. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date was Monday, December 16th. This represents a $1.40 dividend on an annualized basis and a yield of 2.01%. Tourmaline Oil’s dividend payout ratio (DPR) is 31.61%.

Insider Buying and Selling

In other news, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average price of C$62.09 per share, for a total transaction of C$155,216.50. Also, Director Jill Terilee Angevine bought 1,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of C$66.63 per share, with a total value of C$66,630.00. Insiders bought 16,000 shares of company stock worth $1,047,918 in the last 90 days. Insiders own 5.13% of the company’s stock.

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.