Analysts Set Tourmaline Oil Corp. (TSE:TOU) Target Price at C$71.22

Tourmaline Oil Corp. (TSE:TOU) has earned a consensus rating of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is C$71.22.

Several analysts recently issued reports on the company. Desjardins lifted their target price on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Wednesday, April 1st. Canadian Imperial Bank of Commerce decreased their target price on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Royal Bank Of Canada decreased their target price on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, Jefferies Financial Group decreased their target price on Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday, January 20th.

Tourmaline Oil Stock Down 3.7%

Shares of TOU opened at C$62.01 on Thursday. The business’s 50 day moving average is C$64.34 and its 200 day moving average is C$62.43. The company has a market capitalization of C$24.01 billion, a PE ratio of 91.19, a price-to-earnings-growth ratio of 1.72 and a beta of -0.10. Tourmaline Oil has a 12-month low of C$55.40 and a 12-month high of C$70.57. The company has a current ratio of 0.83, a quick ratio of 0.47 and a debt-to-equity ratio of 12.25.

Tourmaline Oil (TSE:TOU) last issued its earnings results on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. The business had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. Research analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s dividend payout ratio (DPR) is 294.12%.

Insider Transactions at Tourmaline Oil

In other news, insider Mike Rose purchased 2,500 shares of the business’s stock in a transaction on Wednesday, March 25th. The stock was acquired at an average price of C$68.50 per share, for a total transaction of C$171,250.00. Following the acquisition, the insider directly owned 8,060,178 shares of the company’s stock, valued at C$552,122,193. This represents a 0.03% increase in their position. Over the last 90 days, insiders purchased 15,000 shares of company stock worth $940,150. 5.13% of the stock is currently owned by company 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.