Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Price Target at C$77.96

Tourmaline Oil Corp. (TSE:TOU) has received an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$78.21.

TOU has been the topic of a number of recent research reports. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. National Bankshares set a C$72.50 price objective on Tourmaline Oil and gave the company a “buy” rating in a research note on Tuesday, September 24th. TD Securities lowered their target price on 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. Jefferies Financial Group boosted their target price on Tourmaline Oil from C$73.00 to C$76.00 in a report on Monday. Finally, Canaccord Genuity Group decreased their price target on Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd.

Tourmaline Oil Trading Down 0.7 %

TSE:TOU opened at C$61.52 on Friday. The company has a market capitalization of C$22.84 billion, a PE ratio of 14.58, a P/E/G ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$69.25. The stock’s 50 day moving average price is C$64.18 and its 200 day moving average price is C$62.63. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). The business had revenue of C$1.47 billion for the quarter, compared to analysts’ expectations of C$1.63 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, research analysts anticipate that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.35 per share. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Monday, December 16th. Tourmaline Oil’s payout ratio is presently 33.18%.

Insider Activity

In other news, Senior Officer Mike Rose acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average cost of C$58.40 per share, with a total value of C$146,004.50. Also, Senior Officer William Scott Kirker sold 66,000 shares of Tourmaline Oil stock in a transaction on Friday, October 4th. The stock was sold at an average price of C$66.37, for a total value of C$4,380,274.80. Insiders purchased 17,500 shares of company stock worth $1,081,948 in the last 90 days. 5.13% of the stock is currently owned by corporate insiders.

Tourmaline Oil Company Profile

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.