Tourmaline Oil (TSE:TOU) Sets New 12-Month High – Should You Buy?

Tourmaline Oil Corp. (TSE:TOU) shares reached a new 52-week high during trading on Wednesday . The company traded as high as C$70.69 and last traded at C$70.47, with a volume of 320696 shares changing hands. The stock had previously closed at C$70.41.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TOU shares. Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. CIBC boosted their price objective on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. Desjardins lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and decreased their target price for the stock from C$80.00 to C$74.00 in a research report on Wednesday, March 19th. Jefferies Financial Group boosted their price target on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. Finally, UBS Group raised their price objective on Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Tourmaline Oil has an average rating of “Moderate Buy” and a consensus target price of C$78.56.

Tourmaline Oil Trading Down 9.0 %

The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The company has a market capitalization of C$23.17 billion, a PE ratio of 14.04, a P/E/G ratio of 1.72 and a beta of 1.30. The business has a fifty day moving average price of C$67.29 and a 200 day moving average price of C$65.22.

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.22%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, March 14th. Tourmaline Oil’s payout ratio is 31.61%.

Insiders Place Their Bets

In related news, Director Jill Terilee Angevine purchased 1,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was purchased at an average price of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose acquired 2,500 shares of the stock in a transaction on Thursday, January 16th. The stock was purchased at an average cost of C$66.44 per share, with a total value of C$166,109.00. Insiders acquired a total of 16,000 shares of company stock worth $1,054,314 over the last ninety days. 5.13% of the stock is owned by company insiders.

Tourmaline Oil Company Profile

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.