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

Tourmaline Oil Corp. (TSE:TOU) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is C$71.00.

Several analysts have commented on TOU shares. BMO Capital Markets lowered shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from C$67.00 to C$70.00 in a report on Thursday, May 7th. Desjardins raised their price objective on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Raymond James Financial lifted their target price on shares of Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. Scotiabank upgraded shares of Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Finally, ATB Cormark Capital Markets lowered their target price on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a report on Friday, March 6th.

Tourmaline Oil Stock Down 3.1%

Shares of TSE:TOU opened at C$61.26 on Tuesday. The stock’s 50-day moving average price is C$63.89 and its 200-day moving average price is C$63.30. Tourmaline Oil has a 12-month low of C$56.72 and a 12-month high of C$70.57. The stock has a market capitalization of C$23.79 billion, a P/E ratio of 33.85, a price-to-earnings-growth ratio of 1.72 and a beta of -0.24. The company has a current ratio of 0.88, a quick ratio of 0.47 and a debt-to-equity ratio of 7.14.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 earnings per share (EPS) for the quarter. The firm had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. On average, equities analysts anticipate 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 will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, June 15th. Tourmaline Oil’s dividend payout ratio (DPR) is presently 110.50%.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, insider Mike Rose bought 5,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of C$65.20 per share, for a total transaction of C$326,000.00. Following the completion of the acquisition, the insider owned 8,085,178 shares of the company’s stock, valued at approximately C$527,153,605.60. This trade represents a 0.06% increase in their ownership of the stock. Also, insider James William Alexander Heard bought 1,000 shares of the stock in a transaction dated Friday, April 17th. The shares were acquired at an average price of C$59.08 per share, with a total value of C$59,080.00. Following the completion of the acquisition, the insider directly owned 66,476 shares of the company’s stock, valued at approximately C$3,927,402.08. The trade was a 1.53% increase in their position. Insiders have bought 36,000 shares of company stock valued at $2,292,130 over the last quarter. Company insiders own 5.13% of the company’s stock.

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.