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

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

Several research analysts recently weighed in on the stock. TD boosted their target price on shares of Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research note on Wednesday, July 22nd. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target for the company. in a report on Thursday, May 7th. Desjardins set a C$68.00 price objective on shares of Tourmaline Oil and gave the company a “hold” rating in a research report on Friday, July 17th. Finally, Jefferies Financial Group upped their price objective on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, insider James William Alexander Heard purchased 1,000 shares of Tourmaline Oil stock in a transaction on Thursday, June 18th. The shares were bought at an average price of C$58.88 per share, with a total value of C$58,880.00. Following the purchase, the insider directly owned 67,476 shares in the company, valued at C$3,972,986.88. This trade represents a 1.50% increase in their position. Also, insider Earl Henry Mckinnon sold 4,700 shares of the firm’s stock in a transaction on Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total value of C$283,645.00. Following the sale, the insider owned 132,280 shares in the company, valued at C$7,983,098. This trade represents a 3.43% decrease in their position. In the last three months, insiders acquired 34,266 shares of company stock worth $2,089,974. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Stock Performance

TSE TOU opened at C$63.43 on Monday. Tourmaline Oil has a fifty-two week low of C$57.61 and a fifty-two week high of C$70.57. The stock has a market cap of C$24.65 billion, a price-to-earnings ratio of 68.95, a price-to-earnings-growth ratio of 1.72 and a beta of -0.29. The business has a fifty day moving average of C$61.45 and a 200-day moving average of C$63.16. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 8.24.

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

Tourmaline Oil Announces Dividend

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

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.