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

Shares of Tourmaline Oil Corp. (TSE:TOU) have earned an average recommendation of “Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$72.13.

Several equities research analysts recently commented on TOU shares. Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 27th. Scotiabank cut their target price on shares of Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 29th. CIBC lowered their price target on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday. Raymond James Financial dropped their price objective on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. Finally, The Goldman Sachs Group upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 13th.

Insider Activity at Tourmaline Oil

In related news, insider Mike Rose acquired 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The stock was purchased at an average price of C$58.72 per share, for a total transaction of C$146,800.00. Following the transaction, the insider owned 8,032,678 shares in the company, valued at C$471,678,852.16. This trade represents a 0.03% increase in their position. 5.13% of the stock is currently owned by insiders.

Tourmaline Oil Stock Performance

TSE TOU opened at C$59.04 on Friday. The business has a 50 day moving average price of C$61.54 and a 200 day moving average price of C$60.79. The company has a market capitalization of C$22.85 billion, a P/E ratio of 16.87, a PEG ratio of 1.72 and a beta of -0.03. Tourmaline Oil has a 1-year low of C$55.40 and a 1-year high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share for the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%.The company had revenue of C$1.40 billion for the quarter. Sell-side analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Monday, December 15th. Tourmaline Oil’s dividend payout ratio is currently 52.86%.

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.