Tourmaline Oil Corp. (TSE:TOU) Receives C$70.36 Consensus Target Price from Analysts

Tourmaline Oil Corp. (TSE:TOU) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$70.36.

A number of research analysts recently issued reports on TOU shares. Jefferies Financial Group raised their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research note on Friday, July 24th. Desjardins set a C$68.00 target price on shares of Tourmaline Oil and gave the stock a “hold” rating in a research report on Friday, July 17th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Finally, TD raised their price target on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a research report on Wednesday, July 22nd.

Insider Activity at Tourmaline Oil

In related news, Director Jill Terilee Angevine bought 766 shares of Tourmaline Oil stock in a transaction that occurred on Monday, July 6th. The stock was acquired at an average price of C$59.00 per share, for a total transaction of C$45,194.00. Following the completion of the purchase, the director owned 71,766 shares in the company, valued at approximately C$4,234,194. This represents a 1.08% increase in their ownership of the stock. Also, insider James William Alexander Heard bought 1,000 shares of Tourmaline Oil stock in a transaction that occurred on Thursday, June 18th. The stock was bought at an average price of C$58.88 per share, with a total value of C$58,880.00. Following the purchase, the insider owned 67,476 shares of the company’s stock, valued at C$3,972,986.88. This trade represents a 1.50% increase in their position. Insiders bought 29,266 shares of company stock valued at $1,770,174 in the last quarter. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Price Performance

TOU opened at C$62.79 on Monday. The firm has a market cap of C$24.40 billion, a P/E ratio of 68.25, a price-to-earnings-growth ratio of 1.72 and a beta of -0.26. The company has a debt-to-equity ratio of 8.24, a quick ratio of 0.47 and a current ratio of 0.72. The business has a 50 day moving average price of C$61.57 and a 200 day moving average price of C$63.18. Tourmaline Oil has a twelve month low of C$57.61 and a twelve month high of C$70.57.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. Tourmaline Oil had a net margin of 6.50% and a return on equity of 2.37%. The company had revenue of C$1.50 billion for the quarter. Research analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. Tourmaline Oil’s dividend payout ratio is 217.39%.

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.