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

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

Several brokerages recently issued reports on TOU. Jefferies Financial Group upped their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. BMO Capital Markets lowered 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 research note on Thursday, May 7th. Desjardins set a C$68.00 price objective on Tourmaline Oil and gave the stock a “hold” rating in a report on Friday, July 17th. TD increased their price objective on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th.

Insider Activity at Tourmaline Oil

In other news, insider Earl Henry Mckinnon sold 4,700 shares of the company’s stock in a transaction on Friday, July 3rd. The shares were sold at an average price of C$60.35, for a total value of C$283,645.00. Following the completion of the sale, the insider owned 132,280 shares of the company’s stock, valued at approximately C$7,983,098. This represents a 3.43% decrease in their position. Also, insider Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average cost of C$59.52 per share, for a total transaction of C$297,600.00. Following the acquisition, the insider owned 8,107,678 shares in the company, valued at C$482,568,994.56. The trade was a 0.06% increase in their position. Insiders have acquired 39,266 shares of company stock worth $2,423,774 over the last three months. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Trading Down 0.7%

Shares of Tourmaline Oil stock opened at C$59.50 on Thursday. The company has a debt-to-equity ratio of 8.24, a current ratio of 0.72 and a quick ratio of 0.47. Tourmaline Oil has a 1 year low of C$56.72 and a 1 year high of C$70.57. The firm has a market cap of C$23.12 billion, a PE ratio of 64.67, a PEG ratio of 1.72 and a beta of -0.29. The company has a 50 day simple moving average of C$61.54 and a two-hundred day simple moving average of C$63.22.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. The firm had revenue of C$1.50 billion for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. Analysts expect 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Monday, June 15th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 217.39%.

Tourmaline Oil Company Profile

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.