Tourmaline Oil (TSE:TOU) Trading Down 3.8% After Analyst Downgrade

Tourmaline Oil Corp. (TSE:TOUGet Rating) traded down 3.8% during mid-day trading on Friday after CIBC lowered their price target on the stock from C$100.00 to C$85.00. CIBC currently has an outperform rating on the stock. Tourmaline Oil traded as low as C$63.71 and last traded at C$64.58. 577,023 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,740,890 shares. The stock had previously closed at C$67.10.

Several other equities analysts have also issued reports on TOU. National Bankshares lifted their price target on shares of Tourmaline Oil from C$85.00 to C$100.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. Raymond James boosted their price objective on shares of Tourmaline Oil from C$90.00 to C$95.00 and gave the company a “strong-buy” rating in a report on Thursday, November 3rd. Stifel Nicolaus set a C$82.00 price objective on shares of Tourmaline Oil and gave the company a “buy” rating in a report on Friday. Finally, Scotiabank boosted their price objective on shares of Tourmaline Oil from C$116.00 to C$117.00 in a report on Thursday, October 13th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$88.60.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction on Wednesday, December 28th. The shares were bought at an average cost of C$68.59 per share, with a total value of C$342,956.00. Following the completion of the acquisition, the insider now owns 8,624,974 shares in the company, valued at C$591,597,316.63. In other news, Director Janet Weiss acquired 500 shares of the firm’s stock in a transaction on Friday, December 30th. The stock was acquired at an average price of C$68.83 per share, for a total transaction of C$34,414.05. Following the completion of the transaction, the director now owns 9,883 shares in the company, valued at approximately C$680,228.15. Also, Senior Officer Mike Rose acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, December 28th. The stock was purchased at an average price of C$68.59 per share, with a total value of C$342,956.00. Following the transaction, the insider now owns 8,624,974 shares of the company’s stock, valued at approximately C$591,597,316.63. Over the last three months, insiders have acquired 15,500 shares of company stock valued at $1,088,505.

Tourmaline Oil Stock Performance

The business’s 50-day simple moving average is C$73.61 and its two-hundred day simple moving average is C$74.28. The firm has a market cap of C$22.33 billion and a price-to-earnings ratio of 4.06. The company has a quick ratio of 0.47, a current ratio of 1.28 and a debt-to-equity ratio of 3.16.

Tourmaline Oil (TSE:TOUGet Rating) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported C$6.11 earnings per share for the quarter. The firm had revenue of C$1.74 billion during the quarter. As a group, sell-side analysts expect that Tourmaline Oil Corp. will post 11.9900002 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Friday, December 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.23. Tourmaline Oil’s dividend payout ratio is 5.10%.

Tourmaline Oil Company Profile

(Get Rating)

Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.

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