Brokerages Set Tourmaline Oil Corp. (TSE:TOU) Target Price at C$71.25

Shares of Tourmaline Oil Corp. (TSE:TOU) have received a consensus rating of “Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is C$71.25.

A number of analysts have recently weighed in on the company. ATB Cormark Capital Markets cut their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Royal Bank Of Canada cut their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research report on Wednesday, April 1st. Raymond James Financial upped their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Finally, Jefferies Financial Group cut their price objective on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th.

Tourmaline Oil Price Performance

Shares of TSE TOU opened at C$65.95 on Monday. The firm has a market cap of C$25.61 billion, a price-to-earnings ratio of 96.99, a PEG ratio of 1.72 and a beta of -0.12. The company has a quick ratio of 0.47, a current ratio of 0.83 and a debt-to-equity ratio of 12.25. Tourmaline Oil has a 52-week low of C$56.72 and a 52-week high of C$70.57. The business’s 50 day moving average is C$64.11 and its two-hundred day moving average is C$62.43.

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

Tourmaline Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. Tourmaline Oil’s dividend payout ratio is currently 294.12%.

Insiders Place Their Bets

In other news, insider Mike Rose bought 5,000 shares of the stock in a transaction that occurred on Friday, April 24th. The stock was purchased at an average price of C$59.45 per share, for a total transaction of C$297,250.00. Following the completion of the purchase, the insider owned 1,500,000 shares in the company, valued at approximately C$89,175,000. This trade represents a 0.33% increase in their position. Also, insider James William Alexander Heard bought 1,000 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were purchased at an average price of C$59.08 per share, with a total value of C$59,080.00. Following the purchase, the insider owned 66,476 shares of the company’s stock, valued at approximately C$3,927,402.08. This represents a 1.53% increase in their position. Insiders have bought 8,500 shares of company stock worth $527,580 in the last ninety days. Corporate insiders own 5.13% of the company’s stock.

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.