Tourmaline Oil Corp. (TSE:TOU) Given Average Recommendation of “Moderate Buy” by Analysts

Tourmaline Oil Corp. (TSE:TOU) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$71.00.

TOU has been the subject of several research analyst reports. ATB Cormark Capital Markets lowered their price objective on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Raymond James Financial boosted their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Royal Bank Of Canada lowered their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Desjardins boosted their price objective on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st.

Tourmaline Oil Stock Down 0.8%

Shares of TSE TOU opened at C$64.74 on Friday. Tourmaline Oil has a 1 year low of C$56.72 and a 1 year high of C$70.57. The firm has a market cap of C$25.14 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 1.72 and a beta of -0.12. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The stock’s 50-day simple moving average is C$64.90 and its 200-day simple moving average is C$63.06.

Tourmaline Oil (TSE:TOU) last announced its earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. The business had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. As a group, equities analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, March 16th. Tourmaline Oil’s payout ratio is currently 110.50%.

Insider Activity

In other news, insider Mike Rose acquired 2,500 shares of the stock in a transaction that occurred on Monday, May 25th. The stock was purchased at an average cost of C$65.98 per share, with a total value of C$164,950.00. Following the completion of the acquisition, the insider directly owned 8,087,678 shares in the company, valued at C$533,624,994.44. This represents a 0.03% increase in their ownership of the stock. Also, insider James William Alexander Heard bought 1,000 shares of the stock in a transaction dated Friday, April 17th. The shares were bought at an average cost of C$59.08 per share, with a total value of C$59,080.00. Following the completion of the acquisition, the insider directly owned 66,476 shares of the company’s stock, valued at approximately C$3,927,402.08. The trade was a 1.53% increase in their position. Over the last three months, insiders purchased 21,000 shares of company stock valued at $1,341,530. 5.13% of the stock is owned by corporate insiders.

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.