Tourmaline Oil Corp. (TSE:TOU) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Tourmaline Oil Corp. (TSE:TOU) have earned an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat.com reports. Four investment 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 twelve-month price objective among brokerages that have covered the stock in the last year is C$71.00.

Several brokerages have issued reports on TOU. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from C$67.00 to C$70.00 in a research report on Thursday, May 7th. Finally, Canaccord Genuity Group lowered shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective for the company. in a research note on Thursday, May 7th.

Tourmaline Oil Trading Down 2.6%

Tourmaline Oil stock traded down C$1.59 during trading hours on Friday, reaching C$59.71. 2,208,669 shares of the company’s stock were exchanged, compared to its average volume of 2,865,691. The firm’s 50 day simple moving average is C$63.33 and its 200 day simple moving average is C$62.93. Tourmaline Oil has a twelve month low of C$56.72 and a twelve month high of C$70.57. The company has a quick ratio of 0.47, a current ratio of 0.88 and a debt-to-equity ratio of 7.14. The firm has a market capitalization of C$23.19 billion, a PE ratio of 32.99, a PEG ratio of 1.72 and a beta of -0.27.

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

Tourmaline Oil Announces Dividend

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. This represents a $2.00 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Monday, June 15th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 110.50%.

Insider Activity at Tourmaline Oil

In other news, insider Earl Henry Mckinnon sold 4,700 shares of the stock in a transaction dated Friday, July 3rd. The shares were sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the transaction, the insider owned 132,280 shares of the company’s stock, valued at C$7,983,098. This represents a 3.43% decrease in their position. Also, Director Jill Terilee Angevine bought 766 shares of Tourmaline Oil stock in a transaction dated Monday, July 6th. The stock was purchased at an average price of C$59.00 per share, with a total value of C$45,194.00. Following the completion of the purchase, the director owned 71,766 shares in the company, valued at C$4,234,194. This trade represents a 1.08% increase in their ownership of the stock. In the last ninety days, insiders bought 45,266 shares of company stock valued at $2,819,904. 5.13% of the stock is currently owned by company 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.