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

Shares of Tourmaline Oil Corp. (TSE:TOU) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is C$71.00.

A number of research firms have recently commented on TOU. ATB Cormark Capital Markets reduced their target price on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. BMO Capital Markets cut shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada reduced 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. Finally, Canaccord Genuity Group cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a research report on Thursday, May 7th.

Tourmaline Oil Price Performance

TOU opened at C$60.69 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. Tourmaline Oil has a 52-week low of C$56.72 and a 52-week high of C$70.57. The company has a 50 day moving average of C$63.64 and a two-hundred day moving average of C$63.22. The company has a market cap of C$23.57 billion, a P/E ratio of 33.53, a P/E/G ratio of 1.72 and a beta of -0.24.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, May 6th. The company reported C$1.69 EPS for the quarter. Tourmaline Oil had a net margin of 12.79% and a return on equity of 4.40%. The business had revenue of C$1.78 billion for the quarter. On average, analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, June 15th. Tourmaline Oil’s payout ratio is presently 110.50%.

Insider Activity at Tourmaline Oil

In other news, insider Mike Rose bought 5,000 shares of Tourmaline Oil stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of C$65.20 per share, with a total value of C$326,000.00. Following the completion of the transaction, the insider owned 8,085,178 shares in the company, valued at approximately C$527,153,605.60. This trade represents a 0.06% increase in their position. Insiders have acquired 42,000 shares of company stock worth $2,648,610 over the last 90 days. Insiders own 5.13% of the company’s stock.

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.