Tourmaline Oil Corp. (TSE:TOU) Receives C$78.41 Consensus Price Target from Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$78.41.

A number of equities analysts recently weighed in on TOU shares. TD Securities dropped their target price on shares of Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. National Bankshares set a C$72.50 target price on shares of Tourmaline Oil and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Scotiabank increased their price objective 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. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group increased their price objective on shares of Tourmaline Oil from C$67.00 to C$73.00 in a research report on Thursday, November 7th.

Tourmaline Oil Stock Up 4.5 %

Shares of TOU stock opened at C$65.48 on Monday. The company has a 50 day simple moving average of C$62.56 and a two-hundred day simple moving average of C$62.91. The company has a current ratio of 1.11, a quick ratio of 0.47 and a debt-to-equity ratio of 10.24. The stock has a market cap of C$24.31 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.72 and a beta of 1.30. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$69.25.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$1.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.26 by C($0.26). The firm had revenue of C$1.47 billion during the quarter, compared to analysts’ expectations of C$1.63 billion. Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. On average, research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Cuts Dividend

The business also recently declared a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.50 dividend. This represents a yield of 2.26%. The ex-dividend date was Friday, September 13th. Tourmaline Oil’s payout ratio is presently 33.18%.

Insider Buying and Selling

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 price of C$57.07 per share, with a total value of C$285,369.00. Also, Director Jill Terilee Angevine purchased 2,500 shares of the stock in a transaction dated Wednesday, September 25th. The shares were purchased at an average cost of C$59.85 per share, for a total transaction of C$149,625.00. In the last quarter, insiders purchased 25,000 shares of company stock valued at $1,509,320. 5.13% of the stock is owned by corporate insiders.

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.