Tourmaline Oil Corp. (TSE:TOU) Given Consensus Rating of “Moderate Buy” by Brokerages

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

A number of brokerages have recently weighed in on TOU. Scotiabank raised Tourmaline Oil to a “strong-buy” rating in a report on Wednesday, April 1st. Raymond James Financial increased their price objective on Tourmaline Oil from C$69.00 to C$72.00 in a report on Thursday, March 5th. ATB Cormark Capital Markets dropped their target price on Tourmaline Oil from C$74.00 to C$73.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Canaccord Genuity Group lowered Tourmaline Oil from a “buy” rating to a “hold” rating and set a C$70.00 target price on the stock. in a report on Thursday, May 7th. Finally, Desjardins raised their target price on Tourmaline Oil from C$70.00 to C$74.00 and gave the stock a “buy” rating in a report on Monday, March 9th.

Tourmaline Oil Stock Up 0.6%

Shares of TOU stock opened at C$61.04 on Tuesday. The stock’s 50-day simple moving average is C$63.64 and its 200-day simple moving average is C$63.20. The company has a debt-to-equity ratio of 7.14, a quick ratio of 0.47 and a current ratio of 0.88. The firm has a market capitalization of C$23.70 billion, a PE ratio of 33.72, a P/E/G ratio of 1.72 and a beta of -0.24. Tourmaline Oil has a fifty-two week low of C$56.72 and a fifty-two week high of C$70.57.

Tourmaline Oil (TSE:TOU) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.69 earnings per share for the quarter. The business had revenue of C$1.78 billion for the quarter. Tourmaline Oil had a return on equity of 4.40% and a net margin of 12.79%. Equities analysts expect that Tourmaline Oil will post 5.6809091 earnings per share for the current year.

Tourmaline Oil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, June 15th. Tourmaline Oil’s dividend payout ratio (DPR) is 110.50%.

Insider Activity

In related news, insider James William Alexander Heard bought 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average cost of C$58.88 per share, with a total value of C$58,880.00. Following the completion of the acquisition, the insider directly owned 67,476 shares in the company, valued at approximately C$3,972,986.88. The trade was a 1.50% increase in their ownership of the stock. Also, insider Mike Rose bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average cost of C$59.52 per share, for a total transaction of C$297,600.00. Following the completion of the acquisition, the insider owned 8,107,678 shares of the company’s stock, valued at C$482,568,994.56. This trade represents a 0.06% increase in their ownership of the stock. Over the last ninety days, insiders have purchased 42,000 shares of company stock worth $2,648,610. 5.13% of the stock is owned by corporate 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.