Tourmaline Oil Corp. (TSE:TOU) Receives C$71.25 Consensus Target Price from Brokerages

Tourmaline Oil Corp. (TSE:TOU) has received a consensus recommendation of “Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$71.25.

A number of research firms have recently weighed in on TOU. Scotiabank upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Jefferies Financial Group cut their target price on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Desjardins boosted their price target on Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a report on Monday, March 9th. ATB Cormark Capital Markets lowered their price target on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Finally, Canadian Imperial Bank of Commerce lowered their price target on Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th.

Insiders Place Their Bets

In other Tourmaline Oil news, insider Mike Rose purchased 10,000 shares of the stock in a transaction dated Monday, February 2nd. The stock was bought at an average price of C$62.21 per share, with a total value of C$622,100.00. Following the acquisition, the insider owned 8,042,678 shares of the company’s stock, valued at approximately C$500,334,998.38. This represents a 0.12% increase in their ownership of the stock. Also, insider James William Alexander Heard purchased 1,000 shares of the stock in a transaction dated Friday, April 17th. The shares were acquired at an average cost of C$59.08 per share, with a total value of C$59,080.00. Following the acquisition, the insider directly owned 66,476 shares in the company, valued at C$3,927,402.08. This represents a 1.53% increase in their position. Insiders have bought a total of 18,500 shares of company stock valued at $1,149,680 in the last three months. 5.13% of the stock is owned by insiders.

Tourmaline Oil Stock Performance

TSE:TOU opened at C$65.95 on Monday. The stock has a fifty day moving average price of C$64.11 and a 200-day moving average price of C$62.40. The company has a market cap of C$25.61 billion, a price-to-earnings ratio of 96.99, a PEG ratio of 1.72 and a beta of -0.10. The company has a debt-to-equity ratio of 12.25, a quick ratio of 0.47 and a current ratio of 0.83. Tourmaline Oil has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57.

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

Tourmaline Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. Tourmaline Oil’s payout ratio is 294.12%.

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.