Tourmaline Oil (TSE:TOU) Sets New 52-Week High – Here’s Why

Tourmaline Oil Corp. (TSE:TOU) reached a new 52-week high on Friday . The company traded as high as C$70.83 and last traded at C$70.00, with a volume of 1082937 shares trading hands. The stock had previously closed at C$69.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TOU shares. 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. CIBC lifted their price target on Tourmaline Oil from C$75.00 to C$80.00 in a research note on Friday, January 17th. UBS Group lifted their price target on Tourmaline Oil from C$79.00 to C$80.00 in a research note on Thursday, February 13th. Finally, National Bankshares lifted their price target on Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$78.45.

Tourmaline Oil Trading Up 0.6 %

The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The company has a market capitalization of C$25.98 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.72 and a beta of 1.30. The company has a fifty day moving average of C$66.74 and a 200-day moving average of C$63.92.

Tourmaline Oil Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.01%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Monday, December 16th. Tourmaline Oil’s payout ratio is presently 31.61%.

Insider Buying and Selling

In related news, Director Jill Terilee Angevine bought 1,000 shares of the stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of C$66.63 per share, for a total transaction of C$66,630.00. Also, Senior Officer Mike Rose purchased 2,500 shares of Tourmaline Oil stock in a transaction dated Monday, December 16th. The shares were purchased at an average cost of C$62.09 per share, for a total transaction of C$155,216.50. In the last three months, insiders have bought 16,000 shares of company stock worth $1,047,918. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Company Profile

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.