Tourmaline Oil Corp. (TSE:TOU) Receives C$77.86 Consensus Price Target from Analysts

Tourmaline Oil Corp. (TSE:TOU) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$77.86.

TOU has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their target price on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Scotiabank increased their price target on shares of Tourmaline Oil from C$90.00 to C$93.00 and gave the company an “outperform” rating in a research report on Tuesday, August 13th. Desjardins increased their price target on shares of Tourmaline Oil from C$72.00 to C$75.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group reduced their price target on shares of Tourmaline Oil from C$75.00 to C$67.00 and set a “buy” rating for the company in a research report on Monday, September 16th.

Insiders Place Their Bets

In other news, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of C$57.07 per share, with a total value of C$285,369.00. In other news, Senior Officer William Scott Kirker sold 66,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of C$66.37, for a total value of C$4,380,274.80. Also, Senior Officer Mike Rose purchased 5,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost of C$57.07 per share, for a total transaction of C$285,369.00. Insiders acquired 36,800 shares of company stock worth $2,233,566 over the last quarter. 5.13% of the stock is currently owned by company insiders.

Tourmaline Oil Stock Performance

TSE TOU opened at C$64.81 on Thursday. Tourmaline Oil has a 1 year low of C$53.45 and a 1 year high of C$74.21. The company has a debt-to-equity ratio of 10.24, a current ratio of 1.11 and a quick ratio of 0.47. The firm has a market cap of C$24.06 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.72 and a beta of 1.30. The company has a fifty day moving average price of C$61.75 and a 200-day moving average price of C$63.14.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 31st. The company reported C$0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of C$1.09 by C($0.37). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The firm had revenue of C$1.31 billion during the quarter, compared to the consensus estimate of C$1.37 billion. As a group, equities research analysts predict that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Cuts Dividend

The firm also recently announced a None dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a yield of 2.26%. Tourmaline Oil’s dividend payout ratio is presently 33.18%.

Tourmaline Oil Company Profile

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.