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

Tourmaline Oil Corp. (TSE:TOU) has been assigned an average rating of “Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. Two research 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 brokers that have issued ratings on the stock in the last year is C$71.56.

Several equities research analysts have issued reports on the stock. Raymond James Financial dropped their target price on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research report on Thursday, November 6th. Jefferies Financial Group lowered their price objective on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Scotiabank dropped their price objective on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Desjardins increased their target price on Tourmaline Oil from C$68.00 to C$70.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, Capital One Financial upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 27th.

Tourmaline Oil Price Performance

Tourmaline Oil stock opened at C$60.91 on Wednesday. The stock has a market cap of C$23.57 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.72 and a beta of 0.12. The company has a quick ratio of 0.47, a current ratio of 1.01 and a debt-to-equity ratio of 10.13. The business has a 50-day simple moving average of C$61.51 and a 200 day simple moving average of C$60.71. Tourmaline Oil has a 52 week low of C$55.40 and a 52 week high of C$70.83.

Tourmaline Oil (TSE:TOU) last released its quarterly 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 firm had revenue of C$1.40 billion for the quarter. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued 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 was Monday, December 15th. Tourmaline Oil’s dividend payout ratio (DPR) is currently 52.86%.

Insiders Place Their Bets

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

About Tourmaline Oil

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.