Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Price Target at C$70.36

Tourmaline Oil Corp. (TSE:TOU) has earned an average rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$70.36.

Several analysts recently issued reports on the company. Jefferies Financial Group increased their price objective on Tourmaline Oil from C$72.00 to C$74.00 in a report on Friday, July 24th. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. TD raised their price objective 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, Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th.

Insider Buying and Selling

In other Tourmaline Oil news, insider Earl Henry Mckinnon sold 4,700 shares of the stock in a transaction that occurred on Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the transaction, the insider owned 132,280 shares in the company, valued at C$7,983,098. This trade represents a 3.43% decrease in their ownership of the stock. Also, insider James William Alexander Heard purchased 1,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was purchased at an average cost of C$58.88 per share, for a total transaction of C$58,880.00. Following the transaction, the insider owned 67,476 shares of the company’s stock, valued at approximately C$3,972,986.88. This trade represents a 1.50% increase in their ownership of the stock. In the last quarter, insiders acquired 29,266 shares of company stock worth $1,770,174. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Price Performance

TSE TOU opened at C$62.79 on Monday. The company has a 50 day simple moving average of C$61.57 and a 200-day simple moving average of C$63.17. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47. The firm has a market capitalization of C$24.40 billion, a price-to-earnings ratio of 68.25, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26. Tourmaline Oil has a 52-week low of C$57.61 and a 52-week high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. The firm had revenue of C$1.50 billion for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. Equities research analysts predict that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. Tourmaline Oil’s payout ratio is currently 217.39%.

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.