Tourmaline Oil (TSE:TOU) Upgraded to Moderate Buy at Raymond James

Raymond James upgraded shares of Tourmaline Oil (TSE:TOU) to a moderate buy rating in a research note published on Monday morning,Zacks.com reports.

Other analysts also recently issued reports about the stock. UBS Group lifted their price target on shares of Tourmaline Oil from C$79.00 to C$80.00 in a report on Thursday, February 13th. National Bankshares lifted their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Cormark raised Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research note on Friday, March 7th. Jefferies Financial Group lifted their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Finally, Desjardins downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and lowered their target price for the company from C$80.00 to C$74.00 in a research report on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Tourmaline Oil has a consensus rating of “Moderate Buy” and a consensus target price of C$78.50.

Tourmaline Oil Trading Down 4.3 %

Tourmaline Oil stock opened at C$57.00 on Monday. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. Tourmaline Oil has a 12-month low of C$55.27 and a 12-month high of C$70.83. The firm has a market capitalization of C$21.24 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.72 and a beta of 1.30. The firm has a 50 day moving average of C$66.59 and a 200 day moving average 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 issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.51%. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, March 14th. Tourmaline Oil’s payout ratio is 31.61%.

Insider Buying and Selling

In other news, Senior Officer Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction that occurred on Friday, March 7th. The stock was purchased at an average cost of C$63.30 per share, with a total value of C$158,252.50. Also, Director Jill Terilee Angevine purchased 1,000 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of C$66.63 per share, with a total value of C$66,630.00. Insiders have purchased 13,500 shares of company stock worth $883,369 in the last ninety days. 5.13% of the stock is owned by corporate 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.