Q1 2024 Earnings Forecast for Tourmaline Oil Corp. (TSE:TOU) Issued By Stifel Firstegy

Tourmaline Oil Corp. (TSE:TOU – Get Rating) – Stock analysts at Stifel Firstegy issued their Q1 2024 EPS estimates for shares of Tourmaline Oil in a note issued to investors on Thursday, January 12th. Stifel Firstegy analyst M. Dunn anticipates that the company will post earnings per share of $2.73 for the quarter. Stifel Firstegy currently has a “Buy” rating on the stock. The consensus estimate for Tourmaline Oil’s current full-year earnings is $11.99 per share. Stifel Firstegy also issued estimates for Tourmaline Oil’s Q2 2024 earnings at $1.82 EPS, Q3 2024 earnings at $1.74 EPS, Q4 2024 earnings at $2.19 EPS and FY2024 earnings at $8.49 EPS.

Tourmaline Oil (TSE:TOU – Get Rating) last released its quarterly earnings results on Wednesday, November 2nd. The company reported C$6.11 earnings per share for the quarter. The business had revenue of C$1.74 billion for the quarter.

TOU has been the topic of several other research reports. Scotiabank lifted their target price on shares of Tourmaline Oil from C$116.00 to C$117.00 in a report on Thursday, October 13th. National Bankshares lifted their target price on shares of Tourmaline Oil from C$85.00 to C$100.00 and gave the stock an “outperform” rating in a report on Thursday, November 3rd. Raymond James lifted their target price on shares of Tourmaline Oil from C$90.00 to C$95.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 3rd. CIBC dropped their target price on shares of Tourmaline Oil from C$100.00 to C$85.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Stifel Nicolaus set a C$82.00 price target on shares of Tourmaline Oil and gave the stock a “buy” rating in a research report on Friday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$88.60.

Tourmaline Oil Stock Down 1.5 %

Tourmaline Oil stock opened at C$66.07 on Monday. The company has a market capitalization of C$22.33 billion and a P/E ratio of 4.06. Tourmaline Oil has a 1-year low of C$41.09 and a 1-year high of C$84.33. The company has a current ratio of 1.28, a quick ratio of 0.47 and a debt-to-equity ratio of 3.16. The firm’s fifty day simple moving average is C$73.61 and its 200-day simple moving average is C$74.32.

Insider Activity at Tourmaline Oil

In other news, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was purchased at an average cost of C$77.43 per share, with a total value of C$387,158.00. Following the acquisition, the insider now directly owns 8,864,974 shares of the company’s stock, valued at approximately C$686,429,120.78. In other news, Director Janet Weiss purchased 500 shares of the business’s stock in a transaction that occurred on Friday, December 30th. The stock was purchased at an average cost of C$68.83 per share, with a total value of C$34,414.05. Following the acquisition, the director now directly owns 9,883 shares of the company’s stock, valued at approximately C$680,228.15. Also, Senior Officer Mike Rose purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were purchased at an average cost of C$77.43 per share, with a total value of C$387,158.00. Following the completion of the acquisition, the insider now directly owns 8,864,974 shares in the company, valued at C$686,429,120.78. Insiders bought 15,500 shares of company stock valued at $1,088,505 in the last ninety days.

Tourmaline Oil Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 30th were issued a dividend of $0.25 per share. This is an increase from Tourmaline Oil’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Wednesday, December 14th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 5.10%.

Tourmaline Oil Company Profile

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Tourmaline Oil Corp. acquires, explores for, develops, and produces oil and natural gas properties in the Western Canadian Sedimentary Basin. It holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. The company was incorporated in 2008 and is headquartered in Calgary, Canada.