A number of other brokerages have also weighed in on TOU. BMO Capital Markets lifted their price target on shares of Tourmaline Oil from C$26.00 to C$28.00 and gave the company a market perform rating in a research note on Thursday, August 2nd. National Bank Financial lifted their price objective on shares of Tourmaline Oil from C$31.00 to C$32.50 and gave the company an outperform rating in a report on Thursday, August 2nd. Finally, CSFB lifted their price objective on shares of Tourmaline Oil from C$29.00 to C$32.00 in a report on Wednesday, July 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of C$30.56.
Shares of TOU opened at C$22.62 on Friday. Tourmaline Oil has a twelve month low of C$17.78 and a twelve month high of C$27.26.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 28th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.77%.
In other Tourmaline Oil news, insider Mike Rose acquired 5,000 shares of the stock in a transaction dated Friday, August 10th. The shares were bought at an average cost of C$22.92 per share, for a total transaction of C$114,600.00. Also, Director Lucille Miller sold 1,240 shares of Tourmaline Oil stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of C$21.51, for a total transaction of C$26,672.40. Insiders bought 26,500 shares of company stock worth $579,340 over the last quarter.
About Tourmaline Oil
Tourmaline Oil Corp., together with its subsidiaries, engages in the acquisition, exploration, development, and production of petroleum and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Peace River High, Alberta Deep Basin, and NEBC Montney areas.
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