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

Shares of Tourmaline Oil Corp. (TSE:TOU) have been assigned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is C$70.36.

TOU has been the subject of several recent research reports. Desjardins set a C$68.00 price target on Tourmaline Oil and gave the company a “hold” rating in a research note on Friday, July 17th. TD upped their target price on Tourmaline Oil from C$65.00 to C$66.00 and gave the company a “hold” rating in a report on Wednesday, July 22nd. Jefferies Financial Group increased their target price on shares of Tourmaline Oil from C$72.00 to C$74.00 in a research report on Friday, July 24th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Friday, June 26th. Finally, Canaccord Genuity Group downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price target on the stock. in a research report on Thursday, May 7th.

Insiders Place Their Bets

In related news, insider Mike Rose acquired 5,000 shares of Tourmaline Oil stock in a transaction dated Wednesday, August 5th. The stock was bought at an average price of C$60.00 per share, with a total value of C$300,000.00. Following the transaction, the insider directly owned 8,132,678 shares in the company, valued at C$487,960,680. This represents a 0.06% increase in their position. Also, insider James William Alexander Heard acquired 1,000 shares of the stock in a transaction dated 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 directly owned 67,476 shares in the company, valued at C$3,972,986.88. This represents a 1.50% increase in their ownership of the stock. Insiders have purchased 44,266 shares of company stock worth $2,749,774 in the last quarter. 5.13% of the stock is currently owned by company insiders.

Tourmaline Oil Trading Up 1.7%

TSE TOU opened at C$60.15 on Thursday. The company has a quick ratio of 0.47, a current ratio of 0.72 and a debt-to-equity ratio of 8.24. Tourmaline Oil has a twelve month low of C$56.72 and a twelve month high of C$70.57. The company has a market cap of C$23.37 billion, a price-to-earnings ratio of 65.38, a price-to-earnings-growth ratio of 1.72 and a beta of -0.29. The business’s fifty day moving average is C$61.75 and its 200 day moving average is C$63.25.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, July 29th. The company reported C$0.47 EPS for the quarter. Tourmaline Oil had a return on equity of 2.37% and a net margin of 6.50%.The firm had revenue of C$1.50 billion during the quarter. As a group, sell-side analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Tourmaline Oil’s dividend payout ratio (DPR) 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.