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

Shares of Tourmaline Oil Corp. (TSE:TOU) have received an average rating of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is C$78.42.

TOU has been the subject of several analyst reports. Cormark raised shares of Tourmaline Oil to a “hold” rating in a research note on Monday, September 23rd. Canaccord Genuity Group lowered their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 in a research note on Tuesday, October 22nd. National Bankshares raised their target price on shares of Tourmaline Oil from C$72.50 to C$75.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Jefferies Financial Group upped their price objective on Tourmaline Oil from C$73.00 to C$76.00 in a research note on Monday, December 16th. Finally, TD Securities decreased their target price on Tourmaline Oil from C$77.00 to C$75.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose bought 2,500 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was purchased at an average cost of C$68.38 per share, for a total transaction of C$170,945.00. Insiders purchased a total of 12,500 shares of company stock valued at $797,388 over the last quarter. 5.13% of the stock is owned by corporate insiders.

Tourmaline Oil Price Performance

TSE TOU opened at C$68.54 on Tuesday. Tourmaline Oil has a 12-month low of C$53.45 and a 12-month high of C$70.65. The firm’s 50 day moving average is C$64.60 and its 200-day moving average is C$62.56. The company has a market capitalization of C$25.44 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a quick ratio of 0.47, a current ratio of 1.11 and a debt-to-equity ratio of 10.24.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings results on Wednesday, November 6th. The company reported C$1.00 EPS for the quarter, missing the consensus estimate of C$1.26 by C($0.26). Tourmaline Oil had a return on equity of 10.86% and a net margin of 30.75%. The business had revenue of C$1.47 billion for the quarter, compared to the consensus estimate of C$1.63 billion. Equities research analysts anticipate that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.35 per share. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, December 16th. Tourmaline Oil’s dividend payout ratio is 33.18%.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.