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

Shares of Tourmaline Oil Corp. (TSE:TOU) have received an average recommendation of “Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$72.75.

A number of equities analysts have recently commented on TOU shares. CIBC lowered their price target on Tourmaline Oil from C$74.00 to C$71.00 in a report on Wednesday, October 15th. TD Securities cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$73.00 to C$68.00 in a report on Tuesday, September 30th. Scotiabank decreased their price target on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Raymond James Financial lowered their price objective on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th. Finally, Desjardins raised shares of Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 price objective for the company in a research note on Monday, November 24th.

Insiders Place Their Bets

In other news, insider Mike Rose acquired 10,000 shares of Tourmaline Oil stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average price of C$59.83 per share, for a total transaction of C$598,300.00. Following the transaction, the insider directly owned 8,197,742 shares of the company’s stock, valued at approximately C$490,470,903.86. The trade was a 0.12% increase in their position. 5.13% of the stock is owned by corporate insiders.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock opened at C$60.51 on Tuesday. The company has a current ratio of 1.01, a quick ratio of 0.47 and a debt-to-equity ratio of 10.13. The company has a market cap of C$23.42 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.72 and a beta of 0.23. The company has a 50 day moving average of C$61.76 and a 200-day moving average of C$61.45. Tourmaline Oil has a 1-year low of C$55.40 and a 1-year high of C$70.83.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, November 5th. The company reported C$0.49 EPS for the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. The business had revenue of C$1.40 billion during the quarter. As a group, equities research analysts forecast that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, December 15th. Tourmaline Oil’s dividend payout ratio is presently 52.86%.

Tourmaline Oil Company Profile

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.