Tourmaline Oil (TSE:TOU) Cut to Hold at Desjardins

Desjardins lowered shares of Tourmaline Oil (TSE:TOU) from a buy rating to a hold rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has C$74.00 price objective on the stock, down from their previous price objective of C$80.00.

Other research analysts have also recently issued reports about the stock. CIBC upped their price objective on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. Jefferies Financial Group upped their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. National Bankshares upped their price objective on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. UBS Group increased their price target on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Finally, Cormark upgraded shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$78.20.

Tourmaline Oil Price Performance

Shares of TSE:TOU opened at C$68.29 on Wednesday. The firm has a market capitalization of C$25.45 billion, a PE ratio of 15.42, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The company has a 50-day moving average price of C$67.08 and a two-hundred day moving average price of C$64.64. Tourmaline Oil has a twelve month low of C$55.27 and a twelve month high of C$70.83.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.00 annualized dividend and a yield of 2.93%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.35. Tourmaline Oil’s payout ratio is currently 31.61%.

Insider Buying and Selling at Tourmaline Oil

In related news, Director Jill Terilee Angevine bought 1,000 shares of the 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 that occurred on Tuesday, January 7th. The stock was acquired at an average price of C$68.38 per share, for a total transaction of C$170,945.00. Insiders have bought 16,000 shares of company stock valued at $1,054,314 over the last 90 days. 5.13% of the stock is currently owned by corporate 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.