Tourmaline Oil (TSE:TOU – Free Report) had its price target raised by Desjardins from C$72.00 to C$75.00 in a research note released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.
Several other equities research analysts have also issued reports on TOU. UBS Group upgraded shares of Tourmaline Oil to a hold rating in a research note on Thursday, June 20th. Canaccord Genuity Group upped their target price on Tourmaline Oil from C$72.50 to C$73.50 and gave the stock a buy rating in a report on Thursday, May 2nd. CIBC upped their price objective on Tourmaline Oil from C$77.50 to C$80.00 and gave the stock an outperform rating in a research note on Thursday, May 2nd. Finally, Stifel Nicolaus raised their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Buy and a consensus target price of C$79.04.
View Our Latest Stock Analysis on Tourmaline Oil
Tourmaline Oil Stock Up 1.6 %
Tourmaline Oil Cuts Dividend
The business also recently disclosed a None dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 13th. Tourmaline Oil’s dividend payout ratio is currently 25.65%.
Insider Activity
In related news, Director Jill Terilee Angevine acquired 1,300 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of C$61.29 per share, for a total transaction of C$79,677.00. In other Tourmaline Oil news, Senior Officer Mike Rose purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were acquired at an average cost of C$66.10 per share, with a total value of C$165,250.00. Also, Director Jill Terilee Angevine acquired 1,300 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of C$61.29 per share, with a total value of C$79,677.00. Insiders have purchased 16,300 shares of company stock valued at $1,028,162 over the last ninety days. 5.41% of the stock is currently owned by company insiders.
About Tourmaline Oil
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.
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