Tourmaline Oil (TSE:TOU) Reaches New 1-Year High – Here’s What Happened

Shares of Tourmaline Oil Corp. (TSE:TOU) hit a new 52-week high during trading on Monday . The company traded as high as C$69.50 and last traded at C$69.29, with a volume of 874083 shares traded. The stock had previously closed at C$66.79.

Analysts Set New Price Targets

Several analysts have recently weighed in on TOU shares. National Bankshares boosted their price objective on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. UBS Group boosted their price target on shares of Tourmaline Oil from C$70.00 to C$73.00 in a report on Monday, December 9th. Cormark raised shares of Tourmaline Oil to a “hold” rating in a report on Monday, September 23rd. Canaccord Genuity Group dropped their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research report on Tuesday, October 22nd. Finally, TD Securities lowered their price objective on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of C$78.42.

Tourmaline Oil Trading Up 3.5 %

The company’s 50-day moving average is C$64.18 and its 200-day moving average is C$62.36. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. The firm has a market cap of C$25.67 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.72 and a beta of 1.30.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 EPS for the quarter, missing the consensus estimate of C$1.26 by C($0.26). Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. The company had revenue of C$1.47 billion for the quarter, compared to the consensus estimate of C$1.63 billion. On average, research analysts predict that Tourmaline Oil Corp. will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.35 per share. The ex-dividend date was Monday, December 16th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. Tourmaline Oil’s dividend payout ratio is presently 33.18%.

Insiders Place Their Bets

In related news, Senior Officer Mike Rose bought 2,500 shares of Tourmaline Oil stock in a transaction on Monday, December 16th. The shares were purchased at an average price of C$62.09 per share, for a total transaction of C$155,216.50. In the last 90 days, insiders acquired 12,500 shares of company stock valued at $786,318. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.