Tourmaline Oil Corp. (TSE:TOU) Receives C$77.96 Consensus Price Target from Analysts

Tourmaline Oil Corp. (TSE:TOU) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$77.96.

A number of research firms have recently commented on TOU. Jefferies Financial Group increased their price objective on Tourmaline Oil from C$67.00 to C$73.00 in a report on Thursday, November 7th. Cormark upgraded shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. TD Securities cut their price target on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. UBS Group lifted their price target on Tourmaline Oil from C$70.00 to C$73.00 in a research note on Monday, December 9th. Finally, Canaccord Genuity Group lowered their price target on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd.

Tourmaline Oil Stock Performance

Shares of Tourmaline Oil stock opened at C$63.39 on Friday. The business has a 50-day simple moving average of C$64.24 and a 200-day simple moving average of C$62.67. The company has a debt-to-equity ratio of 10.24, a quick ratio of 0.47 and a current ratio of 1.11. Tourmaline Oil has a one year low of C$53.45 and a one year high of C$69.25. The company has a market cap of C$23.53 billion, a PE ratio of 15.02, a P/E/G ratio of 1.72 and a beta of 1.30.

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

Tourmaline Oil Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.35 dividend. This is a boost from Tourmaline Oil’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.40 annualized dividend and a yield of 2.21%. Tourmaline Oil’s payout ratio is 33.18%.

Insider Buying and Selling

In other news, Senior Officer Mike Rose bought 2,500 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was acquired at an average price of C$58.40 per share, for a total transaction of C$146,004.50. Also, Senior Officer William Scott Kirker sold 66,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of C$66.37, for a total transaction of C$4,380,274.80. Over the last quarter, insiders purchased 15,000 shares of company stock valued at $926,731. Insiders own 5.13% of the company’s stock.

About Tourmaline Oil

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.