Tourmaline Oil (TSE:TOU) Releases Earnings Results

Tourmaline Oil (TSE:TOU) issued its quarterly earnings results on Wednesday. The company reported C($1.72) earnings per share (EPS) for the quarter, reports. The business had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a net margin of 27.57% and a return on equity of 8.30%.

Tourmaline Oil Stock Performance

Tourmaline Oil stock opened at C$66.14 on Thursday. The firm has a fifty day simple moving average of C$61.67 and a two-hundred day simple moving average of C$61.16. The company has a quick ratio of 0.47, a current ratio of 0.48 and a debt-to-equity ratio of 10.85. Tourmaline Oil has a twelve month low of C$55.40 and a twelve month high of C$70.73. The company has a market capitalization of C$25.60 billion, a PE ratio of 18.90, a P/E/G ratio of 1.72 and a beta of 0.12.

Tourmaline Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, December 15th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 52.86%.

Insider Activity

In related news, insider Mike Rose acquired 10,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were purchased at an average price of C$62.21 per share, for a total transaction of C$622,100.00. Following the completion of the acquisition, the insider owned 8,042,678 shares in the company, valued at approximately C$500,334,998.38. This represents a 0.12% increase in their ownership of the stock. Company insiders own 5.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Desjardins raised their price objective on shares of Tourmaline Oil from C$68.00 to C$70.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Scotiabank cut 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. Canadian Imperial Bank of Commerce reduced their target price on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Finally, Raymond James Financial dropped their price target on Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$71.56.

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.