Tourmaline Oil Corp (TSE:TOU) has been assigned an average recommendation of “Buy” from the nine analysts that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is C$31.17.
TOU has been the subject of a number of research reports. National Bank Financial dropped their price objective on shares of Tourmaline Oil from C$37.50 to C$30.00 and set an “outperform” rating for the company in a report on Tuesday, January 9th. Raymond James Financial lowered their price target on shares of Tourmaline Oil from C$38.00 to C$30.00 and set an “outperform” rating for the company in a report on Thursday, January 11th. CIBC lowered their price target on shares of Tourmaline Oil from C$30.00 to C$27.50 in a report on Tuesday, January 23rd. Scotiabank lowered their price target on shares of Tourmaline Oil from C$32.00 to C$28.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, GMP Securities raised their price target on shares of Tourmaline Oil from C$28.00 to C$30.00 in a report on Thursday, March 1st.
Shares of Tourmaline Oil (TOU) traded down C$0.38 during midday trading on Thursday, reaching C$19.48. 642,900 shares of the company were exchanged, compared to its average volume of 708,175. The company has a market cap of $5,280.00, a price-to-earnings ratio of 15.22 and a beta of -0.12. Tourmaline Oil has a 1-year low of C$17.78 and a 1-year high of C$30.36.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.32 annualized dividend and a yield of 1.64%.
In related news, insider Mike Rose acquired 5,000 shares of the stock in a transaction dated Thursday, December 14th. The stock was bought at an average price of C$21.61 per share, for a total transaction of C$108,050.00. Also, Director Ron Wigham acquired 2,000 shares of the stock in a transaction dated Tuesday, March 13th. The stock was bought at an average price of C$19.50 per share, with a total value of C$39,000.00. In the last 90 days, insiders have acquired 29,000 shares of company stock valued at $595,860.
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Tourmaline Oil Company Profile
Tourmaline Oil Corp. is a Canada-based intermediate crude oil and natural gas exploration and production company. The Company is engaged in the acquisition, exploration, development and production of petroleum and natural gas properties. The Company is focused on exploration and acquisition program in the Western Canadian Sedimentary Basin.
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