Tourmaline Oil Corp. (TSE:TOU) Given Consensus Rating of “Buy” by Brokerages

Tourmaline Oil Corp. (TSE:TOU) has been assigned a consensus rating of “Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is C$72.13.

A number of equities analysts have weighed in on the stock. Capital One Financial upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 27th. The Goldman Sachs Group upgraded Tourmaline Oil to a “strong-buy” rating in a report on Monday, October 13th. Scotiabank reduced their target price on Tourmaline Oil from C$85.00 to C$80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. CIBC lowered their price target on Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday. Finally, TD Securities lowered Tourmaline Oil from a “buy” rating to a “hold” rating and dropped their price target for the stock from C$73.00 to C$68.00 in a research note on Tuesday, September 30th.

Insider Buying and Selling

In other Tourmaline Oil news, insider Mike Rose purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average price of C$59.83 per share, for a total transaction of C$598,300.00. Following the completion of the acquisition, the insider owned 8,197,742 shares of the company’s stock, valued at approximately C$490,470,903.86. This represents a 0.12% increase in their position. Insiders own 5.13% of the company’s stock.

Tourmaline Oil Trading Down 0.1%

TSE TOU opened at C$59.04 on Friday. The company has a market cap of C$22.85 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.72 and a beta of -0.03. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.83. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. The company has a 50-day moving average of C$61.54 and a 200-day moving average of C$60.79.

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

Tourmaline Oil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Monday, December 15th. Tourmaline Oil’s dividend payout ratio is 52.86%.

About Tourmaline Oil

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.