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

Shares of Tourmaline Oil Corp. (TSE:TOU) have been assigned an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is C$72.75.

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Monday, October 13th. TD Securities downgraded Tourmaline Oil from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$73.00 to C$68.00 in a report on Tuesday, September 30th. Capital One Financial upgraded Tourmaline Oil to a “strong-buy” rating in a research report on Monday, October 27th. Desjardins raised Tourmaline Oil from a “hold” rating to a “buy” rating and set a C$68.00 target price for the company in a research note on Monday, November 24th. Finally, CIBC lowered their target price on Tourmaline Oil from C$74.00 to C$71.00 in a report on Wednesday, October 15th.

Tourmaline Oil Price Performance

Tourmaline Oil stock opened at C$60.51 on Tuesday. The stock’s 50 day moving average is C$61.76 and its 200 day moving average is C$61.45. Tourmaline Oil has a one year low of C$55.40 and a one year high of C$70.83. The firm has a market cap of C$23.42 billion, a P/E ratio of 17.29, a P/E/G ratio of 1.72 and a beta of 0.23. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, November 5th. The company reported C$0.49 earnings per share (EPS) for the quarter. The firm had revenue of C$1.40 billion during the quarter. Tourmaline Oil had a net margin of 28.53% and a return on equity of 11.08%. As a group, research analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. Tourmaline Oil’s payout ratio is currently 52.86%.

Insider Transactions at Tourmaline Oil

In related news, insider Mike Rose bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of C$59.83 per share, with a total value of C$598,300.00. Following the completion of the purchase, the insider directly owned 8,197,742 shares in the company, valued at C$490,470,903.86. The trade was a 0.12% increase in their ownership of the stock. 5.13% of the stock is currently owned by corporate insiders.

About Tourmaline Oil

Tourmaline Oil Corp is a Canadian energy company engaged in natural gas and crude oil acquisition, exploration, development, and production in the Western Canada Sedimentary Basin.