Tourmaline Oil Corp. (TSE:TOU) Receives C$77.86 Consensus PT from Brokerages

Tourmaline Oil Corp. (TSE:TOU) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is C$77.86.

A number of brokerages recently weighed in on TOU. Cormark raised shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. National Bankshares set a C$72.50 price objective on shares of Tourmaline Oil and gave the stock a “buy” rating in a report on Tuesday, September 24th. TD Securities lowered their price objective on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a report on Wednesday. Canaccord Genuity Group lowered their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 in a report on Tuesday, October 22nd. Finally, Scotiabank boosted their price objective on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th.

Tourmaline Oil Trading Up 1.3 %

Shares of TOU opened at C$64.81 on Thursday. The firm’s 50 day simple moving average is C$61.75 and its 200 day simple moving average is C$63.14. The company has a market capitalization of C$24.06 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. Tourmaline Oil has a 1-year low of C$53.45 and a 1-year high of C$74.21.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.09 by C($0.37). The company had revenue of C$1.31 billion during the quarter, compared to analysts’ expectations of C$1.37 billion. Tourmaline Oil had a net margin of 30.75% and a return on equity of 10.86%. Sell-side analysts forecast that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Cuts Dividend

The company also recently announced a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.50 dividend. This represents a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, September 13th. Tourmaline Oil’s payout ratio is 33.18%.

Insider Buying and Selling

In other news, Senior Officer Mike Rose bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of C$57.07 per share, with a total value of C$285,369.00. In related news, Director Jill Terilee Angevine acquired 1,300 shares of Tourmaline Oil stock in a transaction on Tuesday, August 13th. The shares were acquired at an average cost of C$61.29 per share, with a total value of C$79,677.00. Also, Senior Officer Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of C$57.07 per share, for a total transaction of C$285,369.00. Insiders have bought a total of 36,800 shares of company stock valued at $2,233,566 over the last three months. 5.13% of the stock is owned by company insiders.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.