Tourmaline Oil Corp. (TSE:TOU) Receives C$71.56 Average PT from Analysts

Tourmaline Oil Corp. (TSE:TOU) has earned a consensus recommendation of “Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is C$71.56.

Several brokerages have recently issued reports on TOU. Desjardins raised their target price on shares of Tourmaline Oil from C$68.00 to C$70.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Jefferies Financial Group cut their price objective on shares of Tourmaline Oil from C$72.00 to C$70.00 in a report on Tuesday, January 20th. Canadian Imperial Bank of Commerce lowered their target price on shares of Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Scotiabank dropped their target price on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. Finally, Raymond James Financial reduced their price target on Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th.

Insider Activity

In related news, insider Mike Rose bought 2,500 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was bought at an average cost of C$58.72 per share, for a total transaction of C$146,800.00. Following the transaction, the insider owned 8,032,678 shares of the company’s stock, valued at C$471,678,852.16. This represents a 0.03% increase in their ownership of the stock. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Stock Down 0.1%

TSE TOU opened at C$61.80 on Wednesday. The stock has a market capitalization of C$23.92 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 1.72 and a beta of 0.12. Tourmaline Oil has a 52 week low of C$55.40 and a 52 week high of C$70.83. The company has a debt-to-equity ratio of 10.13, a quick ratio of 0.47 and a current ratio of 1.01. The stock has a fifty day moving average of C$61.33 and a 200-day moving average of C$60.72.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share (EPS) for the quarter. The business had revenue of C$1.40 billion for the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%. On average, equities research analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.00 annualized dividend and a yield of 3.2%. Tourmaline Oil’s dividend payout ratio is presently 52.86%.

Tourmaline Oil Company Profile

Tourmaline is Canada’s largest and most active natural gas producer dedicated to producing the lowest-development-cost natural gas in North America. We are an investment grade exploration and production company providing strong and predictable operating and financial performance through the development of our three core areas in the Western Canadian Sedimentary Basin. With our existing large reserve base, decades-long drilling inventory, relentless focus on execution, cost management, safety and environmental performance improvement, we are excited to provide shareholders an excellent return on capital and an attractive source of income through our base dividend and surplus free cash flow distribution strategies.