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

Shares of Tourmaline Oil Corp. (TSE:TOU) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is C$71.22.

TOU has been the subject of several analyst reports. ATB Cormark Capital Markets reduced their price objective on shares of Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Desjardins raised their target price on Tourmaline Oil from C$70.00 to C$74.00 and gave the company a “buy” rating in a report on Monday, March 9th. Jefferies Financial Group reduced their price target on Tourmaline Oil from C$72.00 to C$70.00 in a research report on Tuesday, January 20th. Raymond James Financial upped their price target on Tourmaline Oil from C$69.00 to C$72.00 in a research note on Thursday, March 5th. Finally, Royal Bank Of Canada lowered their price objective on Tourmaline Oil from C$76.00 to C$72.00 and set an “outperform” rating on the stock in a report on Friday, March 6th.

Tourmaline Oil Price Performance

Shares of TOU opened at C$67.09 on Friday. The company has a debt-to-equity ratio of 12.25, a quick ratio of 0.47 and a current ratio of 0.83. The firm has a market cap of C$25.98 billion, a PE ratio of 98.66, a PEG ratio of 1.72 and a beta of 0.00. The firm’s 50 day moving average price is C$62.08 and its 200 day moving average price is C$61.50. Tourmaline Oil has a twelve month low of C$55.40 and a twelve month high of C$70.73.

Tourmaline Oil (TSE:TOU) last posted its earnings results on Wednesday, March 4th. The company reported C($1.72) EPS for the quarter. Tourmaline Oil had a return on equity of 1.65% and a net margin of 5.03%.The business had revenue of C$1.66 billion during the quarter. As a group, research analysts expect that Tourmaline Oil will post 5.6809091 EPS for the current fiscal year.

Tourmaline Oil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.0%. Tourmaline Oil’s dividend payout ratio is presently 294.12%.

Insider Buying and Selling

In other news, insider Mike Rose purchased 10,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were bought at an average price of C$62.21 per share, with a total value of C$622,100.00. Following the completion of the transaction, the insider directly owned 8,042,678 shares in the company, valued at C$500,334,998.38. This trade represents 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.