Tourmaline Oil Corp. (TSE:TOU) Receives C$71.00 Average PT from Analysts

Shares of Tourmaline Oil Corp. (TSE:TOU) have been given a consensus rating of “Moderate Buy” by the eleven brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$71.00.

A number of analysts recently commented on the company. Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 price objective on the stock. in a research note on Thursday, May 7th. BMO Capital Markets downgraded shares of Tourmaline Oil from an “outperform” rating to a “market perform” rating and boosted their target price for the company from C$67.00 to C$70.00 in a research note on Thursday, May 7th. Finally, Scotiabank raised shares of Tourmaline Oil to a “strong-buy” rating in a research note on Friday, June 26th.

Insider Buying and Selling

In other news, insider Mike Rose bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average price of C$59.52 per share, for a total transaction of C$297,600.00. Following the completion of the transaction, the insider owned 8,107,678 shares in the company, valued at C$482,568,994.56. The trade was a 0.06% increase in their ownership of the stock. Also, insider Earl Henry Mckinnon sold 4,700 shares of Tourmaline Oil stock in a transaction that occurred on Friday, July 3rd. The stock was sold at an average price of C$60.35, for a total transaction of C$283,645.00. Following the completion of the sale, the insider directly owned 132,280 shares of the company’s stock, valued at C$7,983,098. The trade was a 3.43% decrease in their ownership of the stock. In the last three months, insiders bought 45,266 shares of company stock valued at $2,819,904. Company insiders own 5.13% of the company’s stock.

Tourmaline Oil Price Performance

TOU stock opened at C$61.17 on Friday. The stock’s 50 day moving average price is C$63.11 and its 200 day moving average price is C$62.95. The firm has a market cap of C$23.75 billion, a P/E ratio of 33.80, a PEG ratio of 1.72 and a beta of -0.27. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. Tourmaline Oil has a 1 year low of C$56.72 and a 1 year high of C$70.57.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%.The company had revenue of C$1.78 billion during the quarter. On average, sell-side analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current fiscal year.

Tourmaline Oil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Tourmaline Oil’s payout ratio is 110.50%.

Tourmaline Oil Company Profile

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.