Tourmaline Oil Corp. (TSE:TOU) Receives Average Recommendation of “Buy” from Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have been given an average rating of “Buy” by the twelve analysts that are covering the stock, Marketbeat reports. Eleven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is C$78.38.

TOU has been the subject of a number of research reports. Stifel Nicolaus boosted their target price on shares of Tourmaline Oil from C$75.00 to C$80.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. ATB Capital dropped their price target on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research report on Wednesday, March 20th. Raymond James lowered their target price on shares of Tourmaline Oil from C$90.00 to C$85.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 19th. BMO Capital Markets decreased their price target on shares of Tourmaline Oil from C$78.00 to C$75.00 in a research note on Thursday, March 28th. Finally, Scotiabank cut their price objective on shares of Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating for the company in a report on Tuesday, January 16th.

Insider Activity at Tourmaline Oil

In related news, Senior Officer Mike Rose purchased 5,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of C$64.65 per share, for a total transaction of C$323,258.00. Insiders have acquired 12,630 shares of company stock valued at $790,110 over the last quarter. 5.19% of the stock is owned by insiders.

Tourmaline Oil Trading Down 0.4 %

TOU stock opened at C$66.38 on Thursday. The firm has a market cap of C$23.34 billion, a P/E ratio of 13.30, a PEG ratio of 1.72 and a beta of 1.41. Tourmaline Oil has a 52-week low of C$53.45 and a 52-week high of C$74.21. The company has a quick ratio of 0.47, a current ratio of 0.89 and a debt-to-equity ratio of 9.61. The company’s 50-day simple moving average is C$63.87 and its 200-day simple moving average is C$62.82.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, topping the consensus estimate of C$1.41 by C$0.59. Tourmaline Oil had a return on equity of 12.72% and a net margin of 35.78%. The business had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.49 billion. As a group, equities analysts forecast that Tourmaline Oil will post 4.7492669 EPS for the current fiscal year.

Tourmaline Oil Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 16th will be issued a $0.32 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.30. Tourmaline Oil’s payout ratio is 25.65%.

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.