Tourmaline Oil (TSE:TOU) Stock Rating Lowered by Desjardins

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

Several other analysts have also commented on the stock. National Bankshares increased their price target on shares of 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. CIBC increased their price target on shares of Tourmaline Oil from C$75.00 to C$80.00 in a research report on Friday, January 17th. UBS Group increased their price objective on shares of Tourmaline Oil from C$79.00 to C$80.00 in a research report on Thursday, February 13th. Jefferies Financial Group increased their price objective on shares of Tourmaline Oil from C$73.00 to C$76.00 in a research report on Monday, December 16th. Finally, Cormark raised shares of Tourmaline Oil from a “hold” rating to a “moderate buy” rating in a research report on Friday, March 7th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$78.20.

Tourmaline Oil Stock Up 1.2 %

TSE:TOU opened at C$68.29 on Wednesday. Tourmaline Oil has a 1-year low of C$55.27 and a 1-year high of C$70.83. The company has a 50-day moving average of C$67.08 and a 200 day moving average of C$64.64. The firm has a market cap of C$25.45 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.50 per share. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.93%. Tourmaline Oil’s dividend payout ratio (DPR) is presently 31.61%.

Insider Transactions at Tourmaline Oil

In other Tourmaline Oil news, Director Jill Terilee Angevine bought 1,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were 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 bought 2,500 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of C$64.25 per share, for a total transaction of C$160,612.50. Insiders have bought 16,000 shares of company stock valued at $1,054,314 in the last 90 days. 5.13% of the stock is currently owned by company 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.