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

Shares of Tourmaline Oil Corp. (TSE:TOU) have earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is C$71.33.

Several equities analysts have recently weighed in on the stock. Raymond James Financial lowered their price objective on shares of Tourmaline Oil from C$74.00 to C$72.00 in a research note on Thursday, November 6th. TD Securities downgraded shares of Tourmaline Oil from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$73.00 to C$68.00 in a research report on Tuesday, September 30th. Jefferies Financial Group dropped their price target on shares of Tourmaline Oil from C$72.00 to C$70.00 in a research note on Tuesday. CIBC reduced their price objective on Tourmaline Oil from C$71.00 to C$66.00 in a research note on Tuesday, January 13th. Finally, Scotiabank reduced their price target on Tourmaline Oil from C$80.00 to C$75.00 and set an “outperform” rating for the company in a research report on Wednesday.

Tourmaline Oil Stock Performance

TOU stock opened at C$62.51 on Friday. The company has a debt-to-equity ratio of 10.13, a current ratio of 1.01 and a quick ratio of 0.47. Tourmaline Oil has a 1 year low of C$55.40 and a 1 year high of C$70.83. The company has a market cap of C$24.19 billion, a P/E ratio of 17.86, a price-to-earnings-growth ratio of 1.72 and a beta of -0.03. The stock’s fifty day moving average price is C$61.49 and its 200-day moving average price is C$60.69.

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

Tourmaline Oil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. Tourmaline Oil’s dividend payout ratio (DPR) is currently 52.86%.

Insider Buying and Selling at Tourmaline Oil

In other Tourmaline Oil news, insider Mike Rose acquired 10,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was purchased at an average price of C$59.83 per share, with a total value of C$598,300.00. Following the completion of the purchase, the insider directly owned 8,197,742 shares in the company, valued at approximately C$490,470,903.86. The trade was a 0.12% increase in their position. 5.13% of the stock is currently owned by company insiders.

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.