Analysts Set Tourmaline Oil Corp. (TSE:TOU) PT at C$72.13

Shares of Tourmaline Oil Corp. (TSE:TOU) have been assigned an average recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is C$71.33.

Several equities analysts have issued reports on TOU shares. TD Securities cut shares of Tourmaline Oil from a “buy” rating to a “hold” rating and decreased their price target for the company from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. The Goldman Sachs Group upgraded Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 13th. CIBC cut their target price on Tourmaline Oil from C$71.00 to C$66.00 in a report on Tuesday, January 13th. Desjardins raised Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 price target for the company in a research note on Monday, November 24th. Finally, Scotiabank lowered their price objective on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research report on Wednesday.

Tourmaline Oil Price Performance

Shares of TOU opened at C$61.83 on Friday. 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 stock has a market cap of C$23.93 billion, a PE ratio of 17.67, a PEG ratio of 1.72 and a beta of -0.03. Tourmaline Oil has a 12-month low of C$55.40 and a 12-month high of C$70.83. The business has a 50-day simple moving average of C$61.46 and a two-hundred day simple moving average of C$60.68.

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. The company had revenue of C$1.40 billion for the quarter. Tourmaline Oil had a return on equity of 11.08% and a net margin of 28.53%. Analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were given a $0.50 dividend. The ex-dividend date was Monday, December 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. Tourmaline Oil’s payout ratio is 52.86%.

Insider Activity at Tourmaline Oil

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

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.