Tourmaline Oil (TSE:TOU) Reaches New 12-Month High – What’s Next?

Tourmaline Oil Corp. (TSE:TOU) shares reached a new 52-week high during mid-day trading on Friday . The company 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

A number of equities analysts have recently weighed in on the company. CIBC boosted their target price on Tourmaline Oil from C$75.00 to C$80.00 in a research note on Friday, January 17th. UBS Group raised their price target on shares of Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. Jefferies Financial Group raised their target price on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Finally, National Bankshares lifted their price target 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 equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$78.45.

Tourmaline Oil Price Performance

The company has a market cap of C$25.98 billion, a PE ratio of 15.74, a PEG ratio of 1.72 and a beta of 1.30. The firm’s 50-day moving average is C$66.61 and its 200-day moving average is C$63.83. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13.

Tourmaline Oil Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.35 per share. This is an increase 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 dividend yield of 2.01%. Tourmaline Oil’s dividend payout ratio is 31.61%.

Insider Activity

In related news, Director Jill Terilee Angevine purchased 1,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of C$66.63 per share, with a total value of C$66,630.00. Also, Senior Officer Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction dated Tuesday, January 7th. The stock was bought at an average price of C$68.38 per share, with a total value of C$170,945.00. Insiders bought a total of 16,000 shares of company stock worth $1,047,918 in the last quarter. 5.13% of the stock is owned by company insiders.

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.