Tourmaline Oil Corp. (TSE:TOU) Receives C$70.36 Average PT from Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have earned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is C$70.36.

Several research firms have weighed in on TOU. Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a research note on Thursday, May 7th. Desjardins set a C$68.00 target price on Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. BMO Capital Markets cut Tourmaline Oil from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. TD increased their price target on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th.

Tourmaline Oil Trading Down 0.7%

TOU opened at C$59.15 on Thursday. The firm has a 50 day simple moving average of C$61.84 and a 200 day simple moving average of C$63.22. Tourmaline Oil has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57. The company has a market cap of C$22.99 billion, a price-to-earnings ratio of 64.29, a price-to-earnings-growth ratio of 1.72 and a beta of -0.29. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. The firm had revenue of C$1.50 billion during the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. On average, sell-side analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.50 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 3.4%. Tourmaline Oil’s dividend payout ratio (DPR) is 217.39%.

Insiders Place Their Bets

In other news, insider Mike Rose purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of C$65.20 per share, with a total value of C$326,000.00. Following the acquisition, the insider directly owned 8,085,178 shares of the company’s stock, valued at approximately C$527,153,605.60. This represents a 0.06% increase in their ownership of the stock. Also, insider Earl Henry Mckinnon sold 4,700 shares of the company’s stock in a transaction on Friday, July 3rd. The shares were sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the completion of the sale, the insider owned 132,280 shares of the company’s stock, valued at approximately C$7,983,098. This represents a 3.43% decrease in their position. Over the last three months, insiders have bought 44,266 shares of company stock worth $2,749,774. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.