Tourmaline Oil Corp. (TSE:TOU) Receives Consensus Rating of “Buy” from Brokerages

Shares of Tourmaline Oil Corp. (TSE:TOU) have received an average recommendation of “Buy” from the twelve analysts that are presently covering the company, Marketbeat.com reports. Eleven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is C$77.81.

TOU has been the subject of several research analyst reports. TD Securities dropped their target price on shares of Tourmaline Oil from C$75.00 to C$72.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. BMO Capital Markets lowered their price target on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research report on Thursday, March 28th. CIBC lowered their price target on shares of Tourmaline Oil from C$82.50 to C$72.50 and set an “outperform” rating for the company in a research report on Tuesday, January 16th. Jefferies Financial Group lifted their price target on shares of Tourmaline Oil from C$70.00 to C$75.00 and gave the company a “buy” rating in a research report on Friday. Finally, National Bankshares lowered their price target on shares of Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating for the company in a research report on Wednesday, January 10th.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was bought at an average cost of C$58.20 per share, for a total transaction of C$291,021.00. In other news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction on Wednesday, January 17th. The shares were acquired at an average price of C$58.20 per share, with a total value of C$291,021.00. Also, Director Jill Terilee Angevine purchased 1,500 shares of the stock in a transaction on Monday, January 22nd. The shares were purchased at an average cost of C$56.48 per share, for a total transaction of C$84,720.00. Over the last ninety days, insiders acquired 20,180 shares of company stock worth $1,171,702. 5.19% of the stock is owned by company insiders.

Tourmaline Oil Trading Down 1.4 %

TSE:TOU opened at C$65.66 on Friday. The company has a 50-day moving average price of C$60.62 and a 200-day moving average price of C$63.22. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04. The stock has a market cap of C$23.08 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, March 6th. The company reported C$2.00 EPS for the quarter, topping the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a net margin of 35.87% and a return on equity of 12.53%. The firm had revenue of C$1.66 billion during the quarter, compared to analysts’ expectations of C$1.49 billion. Equities analysts predict that Tourmaline Oil will post 4.710507 EPS for the current year.

Tourmaline Oil Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.83%. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, March 14th. Tourmaline Oil’s payout ratio is 23.86%.

About Tourmaline Oil

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.