Tourmaline Oil (TSE:TOU) Reaches New 52-Week High – Time to Buy?

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group raised their price target on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday, December 16th. TD Securities lowered their target price on shares of 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. UBS Group upped their price target on shares of Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Canaccord Genuity Group lowered their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. Finally, National Bankshares upped their target price on Tourmaline Oil from C$72.50 to C$75.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$78.42.

Tourmaline Oil Trading Up 3.5 %

The firm has a market cap of C$25.67 billion, a P/E ratio of 16.39, a PEG ratio of 1.72 and a beta of 1.30. The company has a 50 day moving average of C$64.18 and a 200 day moving average of 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.

Tourmaline Oil (TSE:TOU) last announced 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 return on equity of 10.86% and a net margin of 30.75%. The business had revenue of C$1.47 billion for the quarter, compared to analyst estimates of C$1.63 billion. Analysts predict that Tourmaline Oil Corp. will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

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

Insider Buying and Selling

In other Tourmaline Oil news, Senior Officer Mike Rose acquired 2,500 shares of Tourmaline Oil stock in a transaction dated Monday, December 16th. The stock was bought at an average cost of C$62.09 per share, with a total value of C$155,216.50. In the last ninety days, insiders purchased 12,500 shares of company stock worth $786,318. 5.13% of the stock is currently owned by 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.