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

Shares of Tourmaline Oil Corp. (TSE:TOU) have received a consensus recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is C$71.22.

TOU has been the topic of several analyst reports. ATB Cormark Capital Markets cut their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Raymond James Financial raised their price target on Tourmaline Oil from C$69.00 to C$72.00 in a research report on Thursday, March 5th. Royal Bank Of Canada dropped their price objective on shares of Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Canadian Imperial Bank of Commerce cut their price objective on shares of Tourmaline Oil from C$71.00 to C$66.00 in a research report on Tuesday, January 13th. Finally, Scotiabank reduced their target price on shares of Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st.

Insiders Place Their Bets

In other news, insider Mike Rose acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, March 25th. The stock was acquired at an average price of C$68.50 per share, with a total value of C$171,250.00. Following the completion of the purchase, the insider directly owned 8,060,178 shares in the company, valued at approximately C$552,122,193. This trade represents a 0.03% increase in their ownership of the stock. Over the last 90 days, insiders have bought 15,000 shares of company stock valued at $940,150. Corporate insiders own 5.13% of the company’s stock.

Tourmaline Oil Trading Down 4.2%

TOU opened at C$63.80 on Thursday. The stock has a 50-day moving average of C$64.22 and a 200 day moving average of C$62.34. The company has a current ratio of 0.83, a quick ratio of 0.47 and a debt-to-equity ratio of 12.25. Tourmaline Oil has a 12 month low of C$55.40 and a 12 month high of C$70.73. The firm has a market cap of C$24.70 billion, a P/E ratio of 93.82, a P/E/G ratio of 1.72 and a beta of 0.00.

Tourmaline Oil (TSE:TOU) last issued its quarterly earnings data on Wednesday, March 4th. The company reported C($1.72) earnings per share (EPS) for the quarter. The company had revenue of C$1.66 billion for the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. As a group, research analysts forecast that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.1%. The ex-dividend date was Monday, March 16th. Tourmaline Oil’s dividend payout ratio is presently 294.12%.

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.