Tourmaline Oil Corp. (TSE:TOU) Receives C$70.78 Average Price Target from Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have been given a consensus recommendation of “Buy” by the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$71.22.

Several research firms recently issued reports on TOU. ATB Cormark Capital Markets decreased their price target on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Royal Bank Of Canada cut their target price on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Scotiabank reduced their target price on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. Jefferies Financial Group lowered their price target on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Finally, Raymond James Financial boosted their price target on shares of Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th.

Insider Activity at Tourmaline Oil

In related news, insider Mike Rose purchased 10,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were bought at an average price of C$62.21 per share, with a total value of C$622,100.00. Following the purchase, the insider directly owned 8,042,678 shares in the company, valued at C$500,334,998.38. This trade represents a 0.12% increase in their position. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Stock Down 1.3%

TSE:TOU opened at C$62.77 on Friday. The stock’s fifty day moving average price is C$61.80 and its two-hundred day moving average price is C$61.35. Tourmaline Oil has a 52-week low of C$55.40 and a 52-week high of C$70.73. The company has a debt-to-equity ratio of 12.25, a quick ratio of 0.47 and a current ratio of 0.83. The company has a market cap of C$24.29 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.72 and a beta of 0.00.

Tourmaline Oil (TSE:TOU) last released its earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. The firm had revenue of C$1.66 billion during the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. On average, analysts anticipate that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, December 15th. Tourmaline Oil’s payout ratio is currently 52.86%.

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.