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

Shares of Tourmaline Oil Corp. (TSE:TOU) have earned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$78.08.

A number of equities research analysts recently issued reports on TOU shares. Scotiabank lowered their price objective on Tourmaline Oil from C$100.00 to C$90.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 16th. Stifel Nicolaus boosted their price target on Tourmaline Oil from C$75.00 to C$80.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. National Bankshares cut their price objective on Tourmaline Oil from C$80.00 to C$70.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 10th. Desjardins reduced their price objective on shares of Tourmaline Oil from C$75.00 to C$74.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Finally, CIBC raised their price objective on shares of Tourmaline Oil from C$72.50 to C$77.51 and gave the stock an “outperform” rating in a report on Monday, April 22nd.

Insider Activity at Tourmaline Oil

In other Tourmaline Oil news, Senior Officer Mike Rose acquired 5,000 shares of the stock in a transaction dated Friday, March 8th. The shares were purchased at an average price of C$62.25 per share, for a total transaction of C$311,259.00. Over the last 90 days, insiders bought 12,630 shares of company stock worth $743,877. 5.19% of the stock is owned by insiders.

Tourmaline Oil Price Performance

Tourmaline Oil stock opened at C$65.79 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.47 and a debt-to-equity ratio of 8.04. The business’s 50 day simple moving average is C$63.12 and its 200 day simple moving average is C$63.03. Tourmaline Oil has a 12 month low of C$53.45 and a 12 month high of C$74.21. The company has a market cap of C$23.12 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 1.72 and a beta of 1.40.

Tourmaline Oil (TSE:TOU) last posted its quarterly earnings results on Wednesday, March 6th. The company reported C$2.00 earnings per share for the quarter, topping the consensus estimate of C$1.41 by C$0.59. The company had revenue of C$1.66 billion during the quarter, compared to the consensus estimate of C$1.49 billion. Tourmaline Oil had a return on equity of 12.53% and a net margin of 35.87%. Sell-side analysts forecast that Tourmaline Oil will post 4.710507 EPS for the current year.

Tourmaline Oil Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Tourmaline Oil’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 1.82%. Tourmaline Oil’s payout ratio is currently 23.86%.

About Tourmaline Oil

Tourmaline Oil Corp. explores for and develops oil and natural gas properties in the Western Canadian Sedimentary Basin. The company holds interests in properties located in the Alberta Deep Basin, Northeast British Columbia Montney, and the Peace River High Triassic oil complex. Tourmaline Oil Corp.