Analysts Set Tourmaline Oil Corp. (TSE:TOU) Target Price at C$71.22

Tourmaline Oil Corp. (TSE:TOU) has been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is C$71.22.

A number of research analysts recently issued reports on TOU shares. Desjardins boosted their target price on shares of Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Jefferies Financial Group cut their price target on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Wednesday. ATB Cormark Capital Markets decreased their price objective on 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. Finally, Royal Bank Of Canada lowered their target price on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th.

Insider Buying and Selling

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

Tourmaline Oil Stock Performance

TOU opened at C$64.32 on Thursday. 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$70.57. The firm has a 50 day moving average of C$64.32 and a two-hundred day moving average of C$62.40. The firm has a market capitalization of C$24.90 billion, a PE ratio of 94.59, a P/E/G ratio of 1.72 and a beta of 0.00.

Tourmaline Oil (TSE:TOU) last released its quarterly earnings data on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. The business had revenue of C$1.66 billion during the quarter. Tourmaline Oil had a net margin of 5.03% and a return on equity of 1.65%. On average, analysts anticipate that Tourmaline Oil will post 5.6809091 EPS for the current year.

Tourmaline Oil Dividend Announcement

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

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.